Point72 DIFC Ltd Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Point72 DIFC Ltd grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15,671.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,542 shares of the insurance provider’s stock after purchasing an additional 31,342 shares during the period. Point72 DIFC Ltd’s holdings in The Hartford Financial Services Group were worth $3,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HIG. Trust Co. of Vermont raised its holdings in shares of The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after buying an additional 88 shares during the period. Brooklyn Investment Group increased its holdings in shares of The Hartford Financial Services Group by 4.0% in the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after buying an additional 94 shares in the last quarter. Bailard Inc. raised its stake in The Hartford Financial Services Group by 0.5% during the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after purchasing an additional 101 shares during the period. Catalina Capital Group LLC increased its stake in shares of The Hartford Financial Services Group by 4.3% in the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock worth $293,000 after acquiring an additional 102 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in The Hartford Financial Services Group by 1.9% in the third quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock worth $661,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction on 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 of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of recent research reports. BMO Capital Markets increased 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 report on Wednesday, November 27th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. 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 report on Wednesday, October 9th. JPMorgan Chase & Co. upped 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 report on Friday, October 25th. Finally, UBS Group lifted 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. Ten 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.00.

The Hartford Financial Services Group Price Performance

HIG opened at $120.85 on Wednesday. The firm has a market cap of $35.03 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.00 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 stock’s 50 day simple moving average is $117.64 and its 200 day simple moving average is $110.49. The Hartford Financial Services Group, Inc. has a 1 year low of $77.59 and a 1 year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.72%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

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.