Manning & Napier Advisors LLC Has $10.85 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Manning & Napier Advisors LLC lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 99,162 shares of the insurance provider’s stock after selling 9,250 shares during the period. Manning & Napier Advisors LLC’s holdings in The Hartford Financial Services Group were worth $10,848,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares in the last quarter. International Assets Investment Management LLC increased its stake in The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after acquiring an additional 691,900 shares during the period. Nordea Investment Management AB raised its position in The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after purchasing an additional 277,295 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in The Hartford Financial Services Group by 7,564.9% during the third quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock valued at $29,243,000 after purchasing an additional 245,404 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HIG shares. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Jefferies Financial Group lifted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America upped their target price on shares of 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. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.28.

The Hartford Financial Services Group Stock Performance

HIG opened at $113.52 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The business’s 50-day simple moving average is $113.30 and its 200 day simple moving average is $113.35. The firm has a market capitalization of $32.91 billion, a PE ratio of 11.37, a PEG ratio of 0.81 and a beta of 0.98. The Hartford Financial Services Group, Inc. has a 52-week low of $85.34 and a 52-week high of $124.90.

The Hartford Financial Services Group Profile

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.