Flputnam Investment Management Co. Sells 2,946 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Flputnam Investment Management Co. lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.8% during the 4th quarter, HoldingsChannel reports. The firm owned 47,508 shares of the insurance provider’s stock after selling 2,946 shares during the period. Flputnam Investment Management Co.’s holdings in The Hartford Financial Services Group were worth $5,197,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HIG. AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares during the period. Proficio Capital Partners LLC grew its position in The Hartford Financial Services Group by 11,904.7% in the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after acquiring an additional 626,304 shares in the last quarter. Nordea Investment Management AB grew its position in The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after acquiring an additional 581,103 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in The Hartford Financial Services Group by 42.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after acquiring an additional 277,295 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $118.44 on Friday. 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 firm has a 50-day moving average of $111.72 and a 200-day moving average of $114.48. The firm has a market cap of $33.80 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 1-year low of $94.32 and a 1-year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping 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%. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. The ex-dividend date 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 dividend payout ratio is currently 20.10%.

Analyst Ratings Changes

Several brokerages recently issued reports on HIG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Wells Fargo & Company cut their target price on shares of 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. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Piper Sandler upped 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 research report on Monday, February 3rd. Ten investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group 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.