Asset Management One Co. Ltd. Trims Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Asset Management One Co. Ltd. cut its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,010 shares of the insurance provider’s stock after selling 4,033 shares during the period. Asset Management One Co. Ltd.’s holdings in The Hartford Financial Services Group were worth $15,855,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of The Hartford Financial Services Group during the third quarter valued at approximately $178,000. Creative Planning lifted its stake in shares of The Hartford Financial Services Group by 2.9% during the 3rd quarter. Creative Planning now owns 79,105 shares of the insurance provider’s stock worth $9,304,000 after acquiring an additional 2,237 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in The Hartford Financial Services Group by 1.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 10,493 shares of the insurance provider’s stock valued at $1,234,000 after acquiring an additional 133 shares during the period. Trust Co. of Vermont grew its position in The Hartford Financial Services Group by 27.9% in the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 88 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in The Hartford Financial Services Group by 11.6% in the third quarter. V Square Quantitative Management LLC now owns 7,561 shares of the insurance provider’s stock worth $889,000 after purchasing an additional 784 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $112.19 on Friday. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.12 and a beta of 0.97. The firm has a 50-day simple moving average of $111.02 and a two-hundred day simple moving average of $113.98. The Hartford Financial Services Group, Inc. has a one year low of $91.64 and a one year 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 released its quarterly 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%. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIG. Wells Fargo & Company lowered their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler upped their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus 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.