Gulf International Bank UK Ltd Lowers Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Gulf International Bank UK Ltd decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,230 shares of the insurance provider’s stock after selling 288 shares during the quarter. Gulf International Bank UK Ltd’s holdings in The Hartford Financial Services Group were worth $2,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings 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 valued at $13,063,000 after buying an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd grew its holdings in The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after buying an additional 4,449 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in The Hartford Financial Services Group in the 3rd quarter valued at about $19,005,000. Citigroup Inc. grew its holdings 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 period. Finally, Assenagon Asset Management S.A. grew its holdings in The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the subject of several recent analyst reports. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets boosted 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 report on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Piper Sandler boosted their target price 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. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $118.44 on Friday. The firm has a market cap of $33.80 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.12 and a beta of 0.97. 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 business’s 50 day moving average is $111.72 and its two-hundred day moving average is $114.43. The Hartford Financial Services Group, Inc. has a 52-week low of $94.32 and a 52-week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its 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%. Analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 1.76%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) 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.