Retirement Systems of Alabama lowered its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 24.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,335 shares of the insurance provider's stock after selling 98,633 shares during the period. Retirement Systems of Alabama owned about 0.10% of The Hartford Financial Services Group worth $35,558,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of The Hartford Financial Services Group by 222.7% during the second quarter. Assenagon Asset Management S.A. now owns 173,757 shares of the insurance provider's stock valued at $17,470,000 after acquiring an additional 119,909 shares during the period. Blue Trust Inc. increased its holdings in shares of The Hartford Financial Services Group by 43.5% during the second quarter. Blue Trust Inc. now owns 3,188 shares of the insurance provider's stock valued at $329,000 after purchasing an additional 966 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 1.4% during the second quarter. Nisa Investment Advisors LLC now owns 87,606 shares of the insurance provider's stock valued at $8,849,000 after purchasing an additional 1,180 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in The Hartford Financial Services Group by 17.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 120,991 shares of the insurance provider's stock worth $12,164,000 after purchasing an additional 17,584 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in The Hartford Financial Services Group by 4.1% in the second quarter. Continuum Advisory LLC now owns 34,105 shares of the insurance provider's stock worth $3,429,000 after purchasing an additional 1,356 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.
In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were 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 owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.
HIG stock opened at $112.06 on Friday. The company's 50 day simple moving average is $117.41 and its 200-day simple moving average is $111.15. The Hartford Financial Services Group, Inc. has a 52-week low of $78.33 and a 52-week high of $124.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $32.49 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.93 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Monday, December 2nd. This is a boost from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.84%.
Several equities analysts have commented on HIG shares. JPMorgan Chase & Co. raised their target price on shares of 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. Barclays initiated 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. UBS Group upped their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a "market perform" rating in a research report on Wednesday, November 27th. Finally, Bank of America upped their price objective 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. Ten equities 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.00.
View Our Latest Analysis on HIG
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.
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