Allianz Asset Management GmbH increased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) by 43.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 809,411 shares of the insurance provider’s stock after acquiring an additional 246,528 shares during the quarter. Allianz Asset Management GmbH owned about 0.28% of The Hartford Financial Services Group worth $88,550,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of HIG. Allspring Global Investments Holdings LLC boosted its stake in The Hartford Financial Services Group by 3.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock valued at $9,117,000 after buying an additional 2,279 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of The Hartford Financial Services Group by 98.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,668 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 5,775 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of The Hartford Financial Services Group by 23.9% during the 3rd quarter. Private Advisor Group LLC now owns 18,725 shares of the insurance provider’s stock valued at $2,202,000 after acquiring an additional 3,618 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of The Hartford Financial Services Group during the third quarter worth about $633,000. Finally, DT Investment Partners LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter worth approximately $26,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.
Wall Street Analyst Weigh In
HIG has been the subject of several research analyst reports. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. BMO Capital Markets upped their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.94.
The Hartford Financial Services Group Trading Down 0.9 %
HIG opened at $111.37 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 52 week low of $93.78 and a 52 week high of $124.90. The stock has a market cap of $32.28 billion, a PE ratio of 10.76, a PEG ratio of 1.13 and a beta of 0.97. The business has a 50 day moving average of $110.96 and a 200-day moving average of $114.05.
The Hartford Financial Services Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping 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%. Equities 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 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 1.87%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.
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.
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