Passumpsic Savings Bank Sells 160 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Passumpsic Savings Bank lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,138 shares of the insurance provider’s stock after selling 160 shares during the quarter. Passumpsic Savings Bank’s holdings in The Hartford Financial Services Group were worth $1,765,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of The Hartford Financial Services Group by 3.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock worth $9,117,000 after buying an additional 2,279 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 98.0% during the third quarter. Sequoia Financial Advisors LLC now owns 11,668 shares of the insurance provider’s stock worth $1,372,000 after buying an additional 5,775 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of The Hartford Financial Services Group by 23.9% during the third quarter. Private Advisor Group LLC now owns 18,725 shares of the insurance provider’s stock worth $2,202,000 after buying an additional 3,618 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $633,000. Finally, DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $26,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $111.37 on Friday. The business’s fifty day moving average price is $110.96 and its two-hundred day moving average price is $114.05. The Hartford Financial Services Group, Inc. has a fifty-two week low of $93.78 and a fifty-two week high of $124.90. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS 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. Shareholders of record on Monday, March 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HIG. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped 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. JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Piper Sandler upped their target price 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. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.