Wealthfront Advisers LLC Has $830,000 Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Wealthfront Advisers LLC cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 81.0% during the 4th quarter, HoldingsChannel reports. The firm owned 7,583 shares of the insurance provider’s stock after selling 32,382 shares during the quarter. Wealthfront Advisers LLC’s holdings in The Hartford Financial Services Group were worth $830,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HIG. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. raised 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 worth $32,000 after acquiring an additional 93 shares during the period. BNP Paribas acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $35,000. DT Investment Partners LLC raised its holdings in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 shares during the period. Finally, Key Financial Inc raised its holdings in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 300 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price objective on shares of 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. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday, March 10th. Finally, Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Nine investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $119.06 on Friday. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-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 firm has a 50-day moving average of $113.25 and a 200-day moving average of $114.91. The stock has a market cap of $33.98 billion, a PE ratio of 11.50, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. On average, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Profile

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.