The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Equity Investment Corp

Equity Investment Corp boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 585,344 shares of the insurance provider's stock after purchasing an additional 5,962 shares during the quarter. Equity Investment Corp owned about 0.20% of The Hartford Financial Services Group worth $64,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. boosted its holdings in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 93 shares during the period. BNP Paribas acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $35,000. DT Investment Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 110 shares during the period. Finally, Key Financial Inc boosted its holdings in shares of The Hartford Financial Services Group by 526.3% in the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 300 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com cut The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods upped their price target on 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. Finally, Wells Fargo & Company cut 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 note on Monday, February 3rd. Ten investment 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 company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $122.94.

The Hartford Financial Services Group Price Performance

Shares of HIG stock traded up $0.97 during mid-day trading on Friday, reaching $118.44. The stock had a trading volume of 4,524,590 shares, compared to its average volume of 1,747,292. The Hartford Financial Services Group, Inc. has a 12-month low of $94.32 and a 12-month high of $124.90. The company has a market cap of $33.80 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The business has a 50-day simple moving average of $111.72 and a 200 day simple moving average 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 (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio 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.