Brave Asset Management Inc. Sells 100 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Brave Asset Management Inc. reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,587 shares of the insurance provider’s stock after selling 100 shares during the period. Brave Asset Management Inc.’s holdings in The Hartford Financial Services Group were worth $502,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HIG. Redhawk Wealth Advisors Inc. grew its stake in The Hartford Financial Services Group by 8.8% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 8,946 shares of the insurance provider’s stock worth $979,000 after purchasing an additional 724 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of The Hartford Financial Services Group by 16.6% during the 4th quarter. Park Avenue Securities LLC now owns 19,928 shares of the insurance provider’s stock worth $2,180,000 after buying an additional 2,837 shares during the period. Kathmere Capital Management LLC grew its position in shares of The Hartford Financial Services Group by 6.8% during the 4th quarter. Kathmere Capital Management LLC now owns 7,005 shares of the insurance provider’s stock worth $766,000 after buying an additional 446 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after acquiring an additional 709,324 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $803,479.60. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HIG. Jefferies Financial Group increased their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.28.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $111.27 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 company has a market capitalization of $32.26 billion, a PE ratio of 11.15, a PEG ratio of 0.76 and a beta of 0.98. The stock’s 50 day moving average price is $114.31 and its 200-day moving average price is $112.49. The Hartford Financial Services Group, Inc. has a twelve month low of $81.87 and a twelve month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Monday, December 2nd. 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 is 20.84%.

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.