Halbert Hargrove Global Advisors LLC Purchases New Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Halbert Hargrove Global Advisors LLC purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 533 shares of the insurance provider’s stock, valued at approximately $58,000.

A number of other hedge funds have also modified their holdings of HIG. Catalyst Financial Partners LLC increased its holdings in The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after buying an additional 90 shares during the last quarter. Barrett & Company Inc. increased its holdings in The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the last quarter. Brooklyn Investment Group increased its holdings in The Hartford Financial Services Group by 4.0% during the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after buying an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after buying an additional 97 shares during the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after buying an additional 98 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $118.44 on Friday. The Hartford Financial Services Group, Inc. has a twelve month low of $94.32 and a twelve month high of $124.90. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $111.72 and a two-hundred day simple moving average of $114.48. The stock has a market capitalization of $33.80 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data 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 net margin of 11.72% and a return on equity of 19.55%. Analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered 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. BMO Capital Markets boosted 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 report on Wednesday, November 27th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed 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. Finally, Piper Sandler upped their price objective 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. Ten equities research 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 stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target 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.