Bruce G. Allen Investments LLC Trims Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Bruce G. Allen Investments LLC cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 651 shares of the insurance provider’s stock after selling 142 shares during the period. Bruce G. Allen Investments LLC’s holdings in The Hartford Financial Services Group were worth $71,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at $26,000. Quest Partners LLC grew its stake in shares of The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Clean Yield Group purchased a new stake in shares of The Hartford Financial Services Group during the third quarter worth $33,000. BNP Paribas acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at $35,000. Finally, Ashton Thomas Securities LLC purchased a new position in The Hartford Financial Services Group in the third quarter valued at $40,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG traded down $3.23 on Friday, reaching $106.19. 1,976,135 shares of the company were exchanged, compared to its average volume of 1,357,286. The company has a 50-day moving average of $114.50 and a 200-day moving average of $112.25. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market cap of $30.78 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The Hartford Financial Services Group, Inc. has a 1-year low of $81.69 and a 1-year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were issued a $0.52 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 1.96%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

Analyst Ratings Changes

Several brokerages have weighed in on HIG. Wells Fargo & Company upped their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. BMO Capital Markets raised their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. UBS Group upped their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.50.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.