Tobam Lowers Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Tobam trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,210 shares of the insurance provider’s stock after selling 221 shares during the quarter. Tobam’s holdings in The Hartford Financial Services Group were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in shares of The Hartford Financial Services Group by 7.1% in the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after buying an additional 4,449 shares during the period. Lecap Asset Management Ltd. purchased a new stake in The Hartford Financial Services Group in the 3rd quarter worth $633,000. Zurich Insurance Group Ltd FI purchased a new stake in The Hartford Financial Services Group in the 3rd quarter worth $19,005,000. Finally, Citigroup Inc. raised its holdings in The Hartford Financial Services Group by 3.5% during the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after acquiring an additional 10,566 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $113.52 on Friday. The stock has a market cap of $32.91 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. 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 stock has a 50 day moving average price of $112.10 and a 200-day moving average price of $113.67. The Hartford Financial Services Group, Inc. has a one year low of $89.04 and a one year high of $124.90.

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 net margin of 11.72% and a return on equity of 19.55%. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HIG. Piper Sandler increased their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. UBS Group raised their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, 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 research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.