Allianz Asset Management GmbH Buys 246,528 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Allianz Asset Management GmbH grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 809,411 shares of the insurance provider’s stock after acquiring an additional 246,528 shares during the period. Allianz Asset Management GmbH’s holdings in The Hartford Financial Services Group were worth $88,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Catalyst Financial Partners LLC increased its stake in The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after purchasing an additional 90 shares in the last quarter. Barrett & Company Inc. grew its holdings in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares during the last quarter. Brooklyn Investment Group increased its position in shares of The Hartford Financial Services Group by 4.0% during the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in The Hartford Financial Services Group by 2.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after acquiring an additional 97 shares during the last quarter. Finally, Lifestyle Asset Management Inc. lifted its position in The Hartford Financial Services Group by 0.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after acquiring an additional 98 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on HIG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of 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. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, StockNews.com raised shares of 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $111.37 on Friday. The business’s fifty day moving average is $110.96 and its 200 day moving average 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 company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization 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 (NYSE:HIG) last posted its quarterly earnings data 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 return on equity of 19.55% and a net margin of 11.72%. Sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company 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. 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 payout ratio is currently 20.10%.

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.