The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,291,881 shares of the insurance provider's stock after selling 81,064 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of The Hartford Financial Services Group worth $250,732,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. IFP Advisors Inc lifted its position in shares of The Hartford Financial Services Group by 5.5% during the 4th quarter. IFP Advisors Inc now owns 2,775 shares of the insurance provider's stock valued at $304,000 after buying an additional 144 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $3,920,000. Howard Capital Management Inc. increased its stake in shares of The Hartford Financial Services Group by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider's stock worth $237,000 after purchasing an additional 108 shares in the last quarter. Wealthspire Advisors LLC raised its position in shares of The Hartford Financial Services Group by 20.8% during the 4th quarter. Wealthspire Advisors LLC now owns 2,789 shares of the insurance provider's stock worth $305,000 after purchasing an additional 481 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of 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 purchasing an additional 246,528 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HIG. 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 research note on Wednesday, November 27th. Wells Fargo & Company dropped 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 research report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler upped their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted 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 note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $122.94.

The Hartford Financial Services Group Stock Up 0.8 %

HIG traded up $0.97 on Friday, hitting $118.44. 4,524,590 shares of the company were exchanged, compared to its average volume of 1,747,292. The firm has a 50-day moving average price of $111.72 and a two-hundred day moving average price of $114.48. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a twelve month low of $94.32 and a twelve month high of $124.90. The company has a market cap of $33.80 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 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%. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. The Hartford Financial Services Group's payout ratio is 20.10%.

The Hartford Financial Services Group Company 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.