Franklin Resources Inc. Sells 13,914 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Franklin Resources Inc. lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,184,647 shares of the insurance provider’s stock after selling 13,914 shares during the period. Franklin Resources Inc. owned 0.75% of The Hartford Financial Services Group worth $258,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HIG. Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $213,000. Skandinaviska Enskilda Banken AB publ boosted its stake in The Hartford Financial Services Group by 27.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after purchasing an additional 48,004 shares during the period. HighTower Advisors LLC grew its holdings in The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its position in shares of The Hartford Financial Services Group by 3.3% during 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 during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in shares of The Hartford Financial Services Group in the third quarter worth $633,000. 93.42% of the stock is owned by institutional investors.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. UBS Group raised their price objective on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets boosted their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Bank of America raised their price target 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, Barclays started coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

The Hartford Financial Services Group Stock Up 1.0 %

Shares of NYSE HIG opened at $112.08 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $78.33 and a 1 year high of $124.90. The firm has a 50-day simple moving average of $117.41 and a two-hundred day simple moving average of $111.23. The company has a market cap of $32.49 billion, a P/E ratio of 11.23, a PEG ratio of 0.93 and a beta of 0.95. 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 Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.84%.

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.