Commerzbank Aktiengesellschaft FI Acquires New Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Commerzbank Aktiengesellschaft FI bought a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, Holdings Channel reports. The fund bought 5,997 shares of the insurance provider’s stock, valued at approximately $656,000.

Several other institutional investors and hedge funds also recently bought and sold shares of HIG. Catalyst Financial Partners LLC lifted its holdings in The Hartford Financial Services Group by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 90 shares during the last quarter. Barrett & Company Inc. raised its position in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Brooklyn Investment Group lifted its stake in shares of 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 valued at $287,000 after purchasing an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares during the period. Finally, Lifestyle Asset Management Inc. increased its position in shares of The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after purchasing an additional 98 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on HIG. Piper Sandler upped 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 research report on Monday, February 3rd. BMO Capital Markets increased 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 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. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Ten research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

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 fifty-two week low of $94.47 and a fifty-two week high of $124.90. The company’s 50 day moving average price is $112.05 and its 200 day moving average price is $114.63. 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 firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data 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%. On average, equities research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis 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 20.10%.

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.