Wealthspire Advisors LLC Boosts Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Wealthspire Advisors LLC grew its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,789 shares of the insurance provider’s stock after purchasing an additional 481 shares during the quarter. Wealthspire Advisors LLC’s holdings in The Hartford Financial Services Group were worth $305,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after acquiring an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after acquiring an additional 4,449 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in The Hartford Financial Services Group in the 3rd quarter worth $19,005,000. Citigroup Inc. increased its holdings in The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock worth $37,029,000 after acquiring an additional 10,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after acquiring an additional 709,324 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 1.7 %

Shares of HIG stock opened at $117.58 on Friday. The company’s 50-day moving average price is $111.54 and its 200-day moving average price is $114.35. 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 stock has a market cap of $33.56 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a twelve month low of $94.32 and a twelve month 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 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, equities analysts predict 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 announced 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. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. BMO Capital Markets boosted their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a 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 report on Tuesday. Keefe, Bruyette & Woods upped 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 report on Wednesday, February 5th. Finally, Barclays raised 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 report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.