Miracle Mile Advisors LLC Acquires Shares of 4,759 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Miracle Mile Advisors LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,759 shares of the insurance provider’s stock, valued at approximately $521,000.

Several other hedge funds have also recently added to or reduced their stakes in HIG. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of 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 buying an additional 48,004 shares during the period. HighTower Advisors LLC raised its position in shares of 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 period. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after purchasing an additional 4,449 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $633,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $19,005,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $111.27 on Thursday. 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 firm has a market cap of $32.26 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 0.92 and a beta of 0.98. The stock’s fifty day moving average price is $114.31 and its two-hundred day moving average price is $112.49. The Hartford Financial Services Group, Inc. has a one year low of $81.87 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was 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 dividend payout ratio is presently 20.84%.

Insiders Place Their Bets

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 dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HIG. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $134.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group boosted 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. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, January 10th. UBS Group lifted their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.