Principal Financial Group Inc. Decreases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Principal Financial Group Inc. decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,538 shares of the insurance provider’s stock after selling 7,335 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of The Hartford Financial Services Group worth $37,911,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of The Hartford Financial Services Group by 2.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock valued at $135,052,000 after buying an additional 34,938 shares during the period. AustralianSuper Pty Ltd increased its position in shares of The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after buying an additional 881,224 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after buying an additional 277,295 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 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 NYSE HIG opened at $111.37 on Friday. The firm has a fifty day moving average price of $110.96 and a 200-day moving average price of $114.05. 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 stock has a market cap of $32.28 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 1 year low of $93.78 and a 1 year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping 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%. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.87%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analyst Ratings Changes

HIG has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price target on shares of 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 boosted their price objective 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. Finally, Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.