Jacobs Levy Equity Management Inc. Sells 101,377 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Jacobs Levy Equity Management Inc. trimmed its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 29.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,189 shares of the insurance provider’s stock after selling 101,377 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.08% of The Hartford Financial Services Group worth $28,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HIG. DT Investment Partners LLC bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth about $26,000. Quest Partners LLC boosted its holdings in shares of 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 worth $29,000 after acquiring an additional 275 shares during the period. Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group in the second quarter valued at approximately $31,000. Clean Yield Group acquired a new stake in The Hartford Financial Services Group during the 3rd quarter worth approximately $33,000. Finally, BNP Paribas acquired a new stake in The Hartford Financial Services Group during the 3rd quarter worth approximately $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $120.85 on Wednesday. The firm’s fifty day moving average price is $117.64 and its two-hundred day moving average price is $110.49. The stock has a market cap of $35.03 billion, a PE 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 quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $77.59 and a fifty-two week high of $124.90.

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.72%. 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 currently 20.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HIG. BMO Capital Markets increased 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. Jefferies Financial Group raised their price target on shares of 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. Bank of America boosted their price objective on shares of 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. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction dated 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 directly owns 25,820 shares in the company, 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 SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

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.