Verdence Capital Advisors LLC Sells 2,387 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Verdence Capital Advisors LLC trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,558 shares of the insurance provider’s stock after selling 2,387 shares during the period. Verdence Capital Advisors LLC’s holdings in The Hartford Financial Services Group were worth $1,593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. Thurston Springer Miller Herd & Titak Inc. increased its stake in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. increased its stake 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 valued at $32,000 after acquiring an additional 93 shares during the period. BNP Paribas bought a new position in The Hartford Financial Services Group during the third quarter valued at about $35,000. DT Investment Partners LLC increased its stake in The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the period. Finally, Key Financial Inc increased its stake in The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 300 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $117.82 on Thursday. The firm has a fifty day moving average of $112.19 and a two-hundred day moving average of $114.65. The stock has a market capitalization of $33.62 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating 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%. As a group, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HIG shares. Piper Sandler upped their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. BMO Capital Markets upped their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company lowered their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated 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. Ten investment 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 stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.