The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC cut its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 30.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,462,507 shares of the insurance provider’s stock after selling 1,522,615 shares during the period. The Hartford Financial Services Group accounts for 1.4% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 27th largest position. Hotchkis & Wiley Capital Management LLC owned approximately 1.19% of The Hartford Financial Services Group worth $407,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. HighTower Advisors LLC increased its position in shares of The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after purchasing an additional 7,350 shares during the period. Centiva Capital LP grew its position in The Hartford Financial Services Group by 4.7% during the third quarter. Centiva Capital LP now owns 8,256 shares of the insurance provider’s stock valued at $971,000 after purchasing an additional 374 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of The Hartford Financial Services Group in the third quarter worth $1,840,000. Point72 Hong Kong Ltd purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth about $1,336,000. Finally, Erste Asset Management GmbH bought a new position in The Hartford Financial Services Group during the third quarter valued at approximately $1,133,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 1.2 %

Shares of NYSE HIG opened at $121.28 on Tuesday. The stock’s fifty day moving average is $117.55 and its 200 day moving average is $110.36. The stock has a market capitalization of $35.16 billion, a P/E ratio of 12.15, a PEG ratio of 1.01 and a beta of 0.95. 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 Hartford Financial Services Group, Inc. has a 52 week low of $77.59 and a 52 week high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a $0.52 dividend. 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. This represents a $2.08 annualized dividend and a yield of 1.72%. The Hartford Financial Services Group’s dividend payout ratio is presently 18.84%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. Bank of America lifted 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. UBS Group lifted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group increased their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

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.