MML Investors Services LLC Raises Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MML Investors Services LLC increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,239 shares of the insurance provider’s stock after purchasing an additional 3,731 shares during the quarter. MML Investors Services LLC’s holdings in The Hartford Financial Services Group were worth $3,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in The Hartford Financial Services Group in the second quarter valued at about $213,000. Skandinaviska Enskilda Banken AB publ increased its stake in The Hartford Financial Services Group by 27.6% in the 2nd 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 in the last quarter. HighTower Advisors LLC raised 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 boosted its position in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $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 third quarter valued at $633,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $112.06 on Friday. 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 company has a market cap of $32.49 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.93 and a beta of 0.95. The Hartford Financial Services Group, Inc. has a 1 year low of $78.33 and a 1 year high of $124.90. The firm has a 50 day moving average price of $117.41 and a 200 day moving average price of $111.15.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.86%. 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. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’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 completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Wells Fargo & Company lifted their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. UBS Group upped their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group raised their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Barclays started coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. Finally, StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. 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 company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

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.