The Hartford Financial Services Group, Inc. (NYSE:HIG) Stake Reduced by Passumpsic Savings Bank

Passumpsic Savings Bank cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,138 shares of the insurance provider’s stock after selling 160 shares during the quarter. Passumpsic Savings Bank’s holdings in The Hartford Financial Services Group were worth $1,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIG. AustralianSuper Pty Ltd raised its holdings in The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after buying an additional 881,224 shares during the period. Assenagon Asset Management S.A. raised its holdings in The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the period. Nordea Investment Management AB raised its holdings in The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after buying an additional 581,103 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in The Hartford Financial Services Group by 42.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after buying an additional 277,295 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in The Hartford Financial Services Group by 43.8% during the 4th quarter. Allianz Asset Management GmbH now owns 809,411 shares of the insurance provider’s stock worth $88,550,000 after buying an additional 246,528 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on HIG shares. BMO Capital Markets boosted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered 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 note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted 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 note on Wednesday, February 5th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Trading Down 0.9 %

Shares of NYSE HIG opened at $111.37 on Friday. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.13 and a beta of 0.97. The business has a 50 day simple moving average of $110.96 and a 200 day simple moving average of $114.05. The Hartford Financial Services Group, Inc. has a 52 week low of $93.78 and a 52 week high of $124.90. 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 (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. On average, research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

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

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.