M&T Bank Corp Has $5.13 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

M&T Bank Corp raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 13.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,868 shares of the insurance provider’s stock after buying an additional 5,702 shares during the quarter. M&T Bank Corp’s holdings in The Hartford Financial Services Group were worth $5,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HIG. AustralianSuper Pty Ltd lifted its stake in 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 valued at $132,710,000 after buying an additional 881,224 shares during the period. Assenagon Asset Management S.A. lifted its stake in 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 valued at $95,322,000 after buying an additional 709,324 shares during the period. Proficio Capital Partners LLC lifted its stake 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 valued at $632,000 after buying an additional 626,304 shares during the period. Nordea Investment Management AB lifted its stake 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 valued at $430,272,000 after buying an additional 581,103 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake 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 valued at $110,000,000 after buying an additional 277,295 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 1.1 %

HIG stock opened at $117.92 on Friday. 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 business has a 50 day moving average price of $112.46 and a two-hundred day moving average price of $114.71. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

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 paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HIG. Piper Sandler raised their price target on 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. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.