Y Intercept Hong Kong Ltd Acquires New Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Y Intercept Hong Kong Ltd acquired a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,828 shares of the insurance provider’s stock, valued at approximately $3,920,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. grew its stake in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. BNP Paribas purchased a new position in The Hartford Financial Services Group in the third quarter valued at about $35,000. DT Investment Partners LLC grew its stake in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in The Hartford Financial Services Group in the third quarter valued at about $40,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Trading Down 0.9 %

Shares of NYSE:HIG opened at $111.37 on Monday. The Hartford Financial Services Group, Inc. has a 12-month low of $93.78 and a 12-month high of $124.90. The company has a market capitalization of $32.28 billion, a PE ratio of 10.76, a PEG ratio of 1.12 and a beta of 0.97. The business has a 50 day moving average of $110.95 and a two-hundred day moving average of $114.22. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HIG. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.94.

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.