SVB Wealth LLC Takes $856,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

SVB Wealth LLC bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, Holdings Channel.com reports. The firm bought 7,822 shares of the insurance provider’s stock, valued at approximately $856,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 7.1% in the third 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 last quarter. Dai ichi Life Insurance Company Ltd increased 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 worth $16,172,000 after buying an additional 4,449 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in The Hartford Financial Services Group during the 3rd quarter worth approximately $19,005,000. Citigroup Inc. lifted its stake in The Hartford Financial Services Group by 3.5% during the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after acquiring an additional 10,566 shares during the period. Finally, Horizon Advisory Services Inc. purchased a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at $277,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 1.3 %

Shares of NYSE HIG opened at $119.77 on Tuesday. The Hartford Financial Services Group, Inc. has a 52-week low of $94.32 and a 52-week high of $124.90. 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 company’s 50-day simple moving average is $111.92 and its 200-day simple moving average is $114.58. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. Equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company 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 $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.74%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Analyst Ratings Changes

Several brokerages recently issued reports on HIG. Piper Sandler raised their target price on shares of 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. Keefe, Bruyette & Woods lifted their price objective 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. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. 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 company has a consensus rating of “Moderate Buy” and an average target price 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.