Impax Asset Management Group plc Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Impax Asset Management Group plc reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 36,042 shares of the insurance provider’s stock after selling 447 shares during the quarter. Impax Asset Management Group plc’s holdings in The Hartford Financial Services Group were worth $3,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC lifted its stake 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 lifted its stake 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 buying an additional 4,449 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $19,005,000. Citigroup Inc. lifted its stake in shares of 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 buying an additional 10,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of The Hartford Financial Services Group by 437.9% during 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 in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 2.1 %

Shares of NYSE HIG opened at $113.79 on Tuesday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.32 and a 1 year high of $124.90. The stock has a market cap of $32.99 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The firm has a 50-day moving average of $111.01 and a 200 day moving average of $114.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, sell-side analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods increased 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. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler increased their target price on shares of 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, StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

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.