Pacer Advisors Inc. Acquires 13,423 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pacer Advisors Inc. lifted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 29.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,293 shares of the insurance provider’s stock after buying an additional 13,423 shares during the period. Pacer Advisors Inc.’s holdings in The Hartford Financial Services Group were worth $6,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CreativeOne Wealth LLC purchased a new position in The Hartford Financial Services Group in the 1st quarter worth approximately $278,000. Canada Pension Plan Investment Board increased its stake in shares of The Hartford Financial Services Group by 94.4% in the first quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider’s stock worth $20,097,000 after buying an additional 94,717 shares during the period. LRI Investments LLC purchased a new position in shares of The Hartford Financial Services Group in the first quarter worth $56,000. SVB Wealth LLC raised its holdings in The Hartford Financial Services Group by 4.1% during the 1st quarter. SVB Wealth LLC now owns 9,774 shares of the insurance provider’s stock valued at $1,007,000 after buying an additional 386 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new stake in The Hartford Financial Services Group in the 1st quarter worth $643,000. Institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $120.72 on Friday. The Hartford Financial Services Group, Inc. has a 52 week low of $76.65 and a 52 week high of $123.23. 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 stock has a market cap of $35.00 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.98 and a beta of 0.94. The business’s 50 day moving average price is $116.81 and its 200-day moving average price is $109.39.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 1.72%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

Analyst Ratings Changes

Several brokerages have recently commented on HIG. Bank of America upped their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted 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 report on Tuesday, September 17th. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

About The Hartford Financial Services Group

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.