Assetmark Inc. Increases Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Assetmark Inc. increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 887,379 shares of the insurance provider’s stock after buying an additional 14,408 shares during the period. Assetmark Inc.’s holdings in The Hartford Financial Services Group were worth $97,079,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC grew 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 valued at $337,000 after purchasing an additional 90 shares during the period. Barrett & Company Inc. grew its stake in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group increased its holdings in The Hartford Financial Services Group by 4.0% in the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after acquiring an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in The Hartford Financial Services Group by 2.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock valued at $489,000 after acquiring an additional 97 shares during the period. Finally, Lifestyle Asset Management Inc. raised its stake in The Hartford Financial Services Group by 0.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after acquiring an additional 98 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 2.2 %

HIG stock opened at $117.14 on Wednesday. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $124.90. The stock has a market cap of $33.43 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. 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 company’s 50 day moving average is $112.05 and its 200 day moving average is $114.63.

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

The Hartford Financial Services Group Dividend Announcement

The company 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HIG shares. 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. BMO Capital Markets raised their price objective 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. Piper Sandler boosted their target price 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. 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 report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Ten 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. Based on data from MarketBeat.com, The Hartford Financial Services Group currently 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.