Ibex Wealth Advisors Makes New $717,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ibex Wealth Advisors purchased a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,555 shares of the insurance provider’s stock, valued at approximately $717,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC increased its holdings in The Hartford Financial Services Group by 7.1% in 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 last quarter. Dai ichi Life Insurance Company Ltd grew its stake in shares of The Hartford Financial Services Group by 3.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after buying an additional 4,449 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at $633,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $19,005,000. Finally, Citigroup Inc. lifted its stake in The Hartford Financial Services Group by 3.5% during the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock worth $37,029,000 after acquiring an additional 10,566 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HIG. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. 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 research note on Thursday, October 10th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.28.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $113.52 on Thursday. 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 $85.34 and a 52-week high of $124.90. The stock has a 50 day moving average price of $113.30 and a 200 day moving average price of $113.35. The company has a market capitalization of $32.91 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.81 and a beta of 0.98.

The Hartford Financial Services Group Company 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.