The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.5% in the 4th quarter, Holdings Channel reports. The firm owned 45,235 shares of the insurance provider’s stock after acquiring an additional 1,536 shares during the quarter. CIBC Asset Management Inc’s holdings in The Hartford Financial Services Group were worth $4,949,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new position in The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. raised its stake in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. BNP Paribas acquired a new position in The Hartford Financial Services Group in the 3rd quarter valued at $35,000. Finally, Ashton Thomas Securities LLC acquired a new position in The Hartford Financial Services Group in the 3rd quarter valued at $40,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $113.00 on Thursday. The business has a 50-day moving average of $110.93 and a 200 day moving average of $114.07. The Hartford Financial Services Group, Inc. has a 12 month low of $92.54 and a 12 month high of $124.90. The stock has a market capitalization of $32.76 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. 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 announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. As a group, sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 1.84%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. BMO Capital Markets upped their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.