Zurcher Kantonalbank Zurich Cantonalbank Sells 163,355 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 44.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,771 shares of the insurance provider’s stock after selling 163,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Hartford Financial Services Group were worth $24,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. DT Investment Partners LLC purchased a new stake in shares of The Hartford Financial Services Group in the third quarter worth approximately $26,000. Clean Yield Group purchased a new position in The Hartford Financial Services Group during the 3rd quarter valued at $33,000. Quest Partners LLC grew its position in The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co purchased a new stake in The Hartford Financial Services Group in the second quarter worth $30,000. Finally, BNP Paribas purchased a new stake in The Hartford Financial Services Group in the third quarter worth $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG opened at $123.37 on Friday. The firm has a market capitalization of $35.76 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The business’s 50-day moving average is $117.46 and its two-hundred day moving average is $110.10. The Hartford Financial Services Group, Inc. has a 1 year low of $76.65 and a 1 year 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 company also recently disclosed 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 represents a $2.08 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is 18.84%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HIG shares. Jefferies Financial Group boosted their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. UBS Group upped their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America raised their target price 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. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. raised their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.00.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

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.