Retirement Systems of Alabama Has $35.56 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Retirement Systems of Alabama lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 24.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 302,335 shares of the insurance provider’s stock after selling 98,633 shares during the period. Retirement Systems of Alabama’s holdings in The Hartford Financial Services Group were worth $35,558,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group in the third quarter worth approximately $26,000. Quest Partners LLC boosted its holdings in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Family Firm Inc. acquired a new position in The Hartford Financial Services Group during the second quarter worth $31,000. Clean Yield Group bought a new position in The Hartford Financial Services Group during the third quarter valued at about $33,000. Finally, BNP Paribas acquired a new stake in shares of The Hartford Financial Services Group in the third quarter worth about $35,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of several analyst reports. Bank of America increased 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. Wells Fargo & Company boosted their target price on shares of 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. Jefferies Financial Group raised their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets boosted their price objective 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. Finally, StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $122.00.

The Hartford Financial Services Group Stock Up 1.0 %

NYSE HIG opened at $112.06 on Friday. The stock has a market capitalization of $32.49 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. 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 quick ratio of 0.32 and a current ratio of 0.32. The stock has a fifty day moving average of $117.41 and a 200-day moving average of $111.15.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given 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 dividend on an annualized basis and a yield of 1.86%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

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 owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

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.