Griffin Asset Management Inc. Grows Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Griffin Asset Management Inc. raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,160 shares of the insurance provider’s stock after purchasing an additional 340 shares during the period. Griffin Asset Management Inc.’s holdings in The Hartford Financial Services Group were worth $783,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HIG. Renaissance Technologies LLC acquired a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth $2,755,000. The Manufacturers Life Insurance Company grew its position in The Hartford Financial Services Group by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 357,259 shares of the insurance provider’s stock valued at $35,919,000 after acquiring an additional 5,149 shares during the period. Creative Planning increased its stake in The Hartford Financial Services Group by 9.6% during the second quarter. Creative Planning now owns 76,868 shares of the insurance provider’s stock worth $7,728,000 after acquiring an additional 6,734 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the 2nd quarter worth about $226,000. Finally, NewEdge Advisors LLC lifted its stake in shares of The Hartford Financial Services Group by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 43,454 shares of the insurance provider’s stock valued at $4,369,000 after purchasing an additional 5,411 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction that occurred on 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 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 filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $113.46 on Wednesday. The firm has a fifty day moving average of $113.36 and a two-hundred day moving average of $113.26. The firm has a market cap of $32.89 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.81 and a beta of 0.98. The Hartford Financial Services Group, Inc. has a 1-year low of $85.34 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HIG shares. Jefferies Financial Group raised their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their target price 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, January 14th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. UBS Group raised their price objective 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, Bank of America upped their target price on 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. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.28.

The Hartford Financial Services Group 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.