Oregon Public Employees Retirement Fund Sells 270 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Oregon Public Employees Retirement Fund cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,842 shares of the insurance provider’s stock after selling 270 shares during the period. Oregon Public Employees Retirement Fund’s holdings in The Hartford Financial Services Group were worth $2,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in shares of The Hartford Financial Services Group by 8.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,453 shares of the insurance provider’s stock valued at $268,000 after acquiring an additional 185 shares during the period. Illinois Municipal Retirement Fund raised its holdings in The Hartford Financial Services Group by 5.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 166,181 shares of the insurance provider’s stock worth $18,180,000 after purchasing an additional 7,995 shares in the last quarter. Horizon Advisory Services Inc. bought a new position in The Hartford Financial Services Group in the fourth quarter worth about $277,000. IFP Advisors Inc raised its holdings in The Hartford Financial Services Group by 5.5% in the fourth quarter. IFP Advisors Inc now owns 2,775 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 144 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in The Hartford Financial Services Group in the fourth quarter worth about $3,920,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $117.58 on Friday. The business’s 50-day moving average is $111.54 and its two-hundred day moving average is $114.35. The company has a market capitalization of $33.56 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.12 and a beta of 0.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.32 and a fifty-two week high of $124.90.

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 for the quarter, beating the consensus estimate 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%. Research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HIG shares. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Piper Sandler raised their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

About The Hartford Financial Services Group

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.