Charles Schwab Investment Management Inc. Lowers Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Charles Schwab Investment Management Inc. lowered its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,874,329 shares of the insurance provider’s stock after selling 11,019 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in The Hartford Financial Services Group were worth $220,440,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group in the first quarter valued at about $26,000. DT Investment Partners LLC purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $26,000. Quest Partners LLC boosted its position in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares during the period. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group in the 2nd quarter valued at approximately $30,000. Finally, Family Firm Inc. purchased a new stake in The Hartford Financial Services Group in the second quarter valued at approximately $31,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 0.9 %

Shares of The Hartford Financial Services Group stock opened at $120.72 on Friday. The Hartford Financial Services Group, Inc. has a one year low of $76.65 and a one year high of $123.23. The company has a market cap of $35.00 billion, a P/E ratio of 12.10, a PEG ratio of 0.98 and a beta of 0.94. 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 firm has a fifty day moving average of $116.81 and a two-hundred day moving average of $109.39.

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 given a $0.52 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.72%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HIG shares. Royal Bank of Canada lifted their price objective on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. UBS Group boosted their price target 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. Bank of America lifted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price target on 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. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

Insiders Place Their Bets

In related 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 directly owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by insiders.

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.