MONECO Advisors LLC Trims Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MONECO Advisors LLC lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,600 shares of the insurance provider’s stock after selling 305 shares during the quarter. MONECO Advisors LLC’s holdings in The Hartford Financial Services Group were worth $284,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HIG. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. raised its position in shares of The Hartford Financial Services Group by 46.5% in the 4th 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 period. BNP Paribas purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth $35,000. DT Investment Partners LLC raised its position in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after buying an additional 110 shares during the period. Finally, Key Financial Inc raised its position in shares of The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $116.53 on Wednesday. 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, Inc. has a one year low of $94.32 and a one year high of $124.90. The company’s 50-day simple moving average is $111.16 and its 200-day simple moving average is $114.32. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.12 and a beta of 0.97.

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 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%. Equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share 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. Stockholders 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 dividend yield of 1.79%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods increased their target price 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. BMO Capital Markets increased their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler increased their target price 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. Finally, 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 report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.94.

About The Hartford Financial Services Group

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.