Assenagon Asset Management S.A. Has $95.32 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Assenagon Asset Management S.A. lifted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 437.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 871,318 shares of the insurance provider’s stock after acquiring an additional 709,324 shares during the period. Assenagon Asset Management S.A.’s holdings in The Hartford Financial Services Group were worth $95,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $26,000. Quest Partners LLC raised its position in The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares during the period. Clean Yield Group purchased a new stake in The Hartford Financial Services Group in the 3rd quarter worth about $33,000. BNP Paribas acquired a new stake in The Hartford Financial Services Group during the 3rd quarter worth about $35,000. Finally, Ashton Thomas Securities LLC purchased a new position in The Hartford Financial Services Group during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 1.7 %

HIG opened at $109.36 on Wednesday. The firm has a 50 day simple moving average of $114.31 and a 200 day simple moving average of $112.49. The company has a market cap of $31.70 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The Hartford Financial Services Group, Inc. has a fifty-two week low of $81.87 and a fifty-two week high of $124.90. 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 business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were paid a $0.52 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.90%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

Insiders Place Their Bets

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. BMO Capital Markets increased their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Jefferies Financial Group upped their price objective on shares of 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. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $122.28.

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.