The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 32,493 shares of the insurance provider’s stock after buying an additional 761 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in The Hartford Financial Services Group were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of HIG. HighTower Advisors LLC raised its stake in The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after acquiring an additional 7,350 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in shares of The Hartford Financial Services Group by 3.3% in the third 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 during the period. Lecap Asset Management Ltd. purchased a new stake in shares of The Hartford Financial Services Group during the third quarter worth approximately $633,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $19,005,000. Finally, Citigroup Inc. grew its position in The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after buying an additional 10,566 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Nine investment 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 company. Based on data from MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $113.52 on Monday. 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 stock has a market cap of $32.91 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.12 and a beta of 0.97. The company’s 50-day moving average price is $111.91 and its 200 day moving average price is $113.84. The Hartford Financial Services Group, Inc. has a 52 week low of $89.04 and a 52 week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction 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 of the company’s stock, valued at $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 is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

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.