Mount Lucas Management LP Reduces Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mount Lucas Management LP cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,829 shares of the insurance provider’s stock after selling 2,602 shares during the quarter. The Hartford Financial Services Group accounts for 1.4% of Mount Lucas Management LP’s portfolio, making the stock its 10th largest holding. Mount Lucas Management LP’s holdings in The Hartford Financial Services Group were worth $3,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of HIG. HighTower Advisors LLC boosted its stake in The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd lifted 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 in the last quarter. Horizon Advisory Services Inc. acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $277,000. Zurich Insurance Group Ltd FI purchased a new position in shares of The Hartford Financial Services Group during the third quarter valued at $19,005,000. Finally, Citigroup Inc. raised its position in The Hartford Financial Services Group by 3.5% during the third 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 period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Up 1.1 %

HIG opened at $117.92 on Monday. The firm has a market cap of $33.65 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 business has a 50 day moving average price of $112.46 and a 200 day moving average price of $114.76. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month 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%. Research 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods boosted their price objective on shares of 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. Wells Fargo & Company cut their target price 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 report on Monday, February 3rd. Finally, Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target 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.