Point72 Asia Singapore Pte. Ltd. Takes $1.84 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 15,647 shares of the insurance provider’s stock, valued at approximately $1,840,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at about $213,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of The Hartford Financial Services Group by 27.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after purchasing an additional 48,004 shares in the last quarter. Atria Investments Inc purchased a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at about $1,328,000. Lecap Asset Management Ltd. purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $633,000. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after purchasing an additional 4,449 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. UBS Group lifted their price target on 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. BMO Capital Markets boosted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company boosted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $122.00.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $123.31 on Monday. 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, Inc. has a 52-week low of $76.65 and a 52-week high of $124.90. The business’s 50-day moving average price is $117.46 and its 200 day moving average price is $110.23. The firm has a market cap of $35.75 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.01 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

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

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.