The Hartford Financial Services Group, Inc. (NYSE:HIG) Short Interest Up 10.8% in November

The Hartford Financial Services Group, Inc. (NYSE:HIG) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 3,180,000 shares, an increase of 10.8% from the November 15th total of 2,870,000 shares. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is presently 2.1 days. Currently, 1.1% of the shares of the stock are sold short.

The Hartford Financial Services Group Trading Down 1.2 %

Shares of NYSE:HIG opened at $110.73 on Tuesday. The firm has a market cap of $32.10 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.93 and a beta of 0.95. The Hartford Financial Services Group has a 12 month low of $78.33 and a 12 month high of $124.90. The company’s fifty day simple moving average is $117.33 and its 200 day simple moving average is $111.37. 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 Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.88%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.84%.

Analyst Ratings Changes

HIG has been the topic of several recent research reports. BMO Capital Markets raised their target price on shares of 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. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price for the company. Jefferies Financial Group raised their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’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 transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of The Hartford Financial Services Group

A number of institutional investors have recently modified their holdings of HIG. Concurrent Investment Advisors LLC bought a new stake in The Hartford Financial Services Group in the 2nd quarter valued at approximately $213,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of The Hartford Financial Services Group by 27.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after purchasing an additional 48,004 shares during the last quarter. HighTower Advisors LLC boosted its holdings in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its position in The Hartford Financial Services Group by 3.3% in 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 purchasing an additional 4,449 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in The Hartford Financial Services Group in the 3rd quarter valued at $633,000. 93.42% of the stock is currently owned by institutional investors.

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.