Jacobs Levy Equity Management Inc. Has $28.37 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Jacobs Levy Equity Management Inc. lessened its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 29.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 241,189 shares of the insurance provider’s stock after selling 101,377 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in The Hartford Financial Services Group were worth $28,366,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. DT Investment Partners LLC acquired a new position in The Hartford Financial Services Group during the 3rd quarter valued at about $26,000. Quest Partners LLC boosted its position 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 valued at $29,000 after buying an additional 275 shares during the last quarter. Family Firm Inc. purchased a new position in shares of The Hartford Financial Services Group during the second quarter valued at approximately $31,000. Clean Yield Group bought a new stake in The Hartford Financial Services Group during the third quarter worth $33,000. Finally, BNP Paribas purchased a new stake in The Hartford Financial Services Group in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $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 can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $120.85 on Wednesday. The firm’s 50 day moving average is $117.64 and its 200 day moving average is $110.49. The stock has a market capitalization of $35.03 billion, a P/E ratio of 12.11, a PEG ratio of 1.00 and a beta of 0.95. The Hartford Financial Services Group, Inc. has a 12 month low of $77.59 and a 12 month high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 annualized dividend and a dividend yield of 1.72%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is currently 20.84%.

Analyst Ratings Changes

HIG has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of 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. Barclays began coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target on 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 upped their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.