Principal Financial Group Inc. Sells 7,335 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Principal Financial Group Inc. trimmed its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,538 shares of the insurance provider's stock after selling 7,335 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of The Hartford Financial Services Group worth $37,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HIG. HighTower Advisors LLC raised its position in shares of The Hartford Financial Services Group by 7.1% during 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 in the last quarter. Dai ichi Life Insurance Company Ltd increased its position in shares of The Hartford Financial Services Group by 3.3% during 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 purchasing an additional 4,449 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at about $633,000. Zurich Insurance Group Ltd FI bought a new stake in The Hartford Financial Services Group in the 3rd quarter worth approximately $19,005,000. Finally, Citigroup Inc. boosted its stake in The Hartford Financial Services Group by 3.5% in the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider's stock worth $37,029,000 after buying an additional 10,566 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price target 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. BMO Capital Markets lifted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 27th. StockNews.com lowered shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday. Piper Sandler increased their target price 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.94.

The Hartford Financial Services Group Stock Up 2.4 %

Shares of HIG stock traded up $2.71 during midday trading on Tuesday, reaching $116.53. 2,113,226 shares of the stock were exchanged, compared to its average volume of 1,690,951. The Hartford Financial Services Group, Inc. has a 1 year low of $94.32 and a 1 year high of $124.90. The firm has a market cap of $33.78 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The company's 50 day moving average is $111.16 and its two-hundred day moving average is $114.32. 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 issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. On average, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. 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.