Fisher Asset Management LLC Purchases New Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Fisher Asset Management LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,889 shares of the insurance provider’s stock, valued at approximately $340,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in shares of The Hartford Financial Services Group by 13.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 36,753 shares of the insurance provider’s stock valued at $4,323,000 after purchasing an additional 4,254 shares during the period. Summit Trail Advisors LLC increased its holdings in The Hartford Financial Services Group by 3.7% in the third quarter. Summit Trail Advisors LLC now owns 3,445 shares of the insurance provider’s stock valued at $407,000 after purchasing an additional 122 shares during the last quarter. Swedbank AB lifted its stake in The Hartford Financial Services Group by 7.5% in the third quarter. Swedbank AB now owns 562,882 shares of the insurance provider’s stock valued at $66,201,000 after buying an additional 39,035 shares during the period. Cerity Partners LLC boosted its holdings in The Hartford Financial Services Group by 9.9% during the third quarter. Cerity Partners LLC now owns 67,445 shares of the insurance provider’s stock worth $7,932,000 after buying an additional 6,094 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its position in shares of The Hartford Financial Services Group by 7.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,557 shares of the insurance provider’s stock worth $300,000 after buying an additional 182 shares during the period. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HIG. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Barclays assumed coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

Insider Activity

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $123.31 on Monday. The Hartford Financial Services Group, Inc. has a 12 month low of $76.65 and a 12 month high of $124.90. The company’s fifty day simple moving average is $117.46 and its 200-day simple moving average is $110.23. The firm has a market cap of $35.75 billion, a PE ratio of 12.36, a P/E/G ratio of 1.01 and a beta of 0.94. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is currently 18.84%.

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.