Kestra Private Wealth Services LLC Increases Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Kestra Private Wealth Services LLC increased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 96.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,243 shares of the insurance provider’s stock after buying an additional 2,080 shares during the period. Kestra Private Wealth Services LLC’s holdings in The Hartford Financial Services Group were worth $464,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after purchasing an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after purchasing an additional 4,449 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in The Hartford Financial Services Group during the third quarter valued at $633,000. Zurich Insurance Group Ltd FI purchased a new position in The Hartford Financial Services Group during the third quarter valued at $19,005,000. Finally, Citigroup Inc. lifted 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 purchasing an additional 10,566 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $112.19 on Friday. The Hartford Financial Services Group, Inc. has a 1-year low of $91.64 and a 1-year high of $124.90. The stock has a market cap of $32.52 billion, a PE ratio of 10.84, a P/E/G 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 company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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%. As a group, analysts forecast that The Hartford Financial Services Group, Inc. will post 11.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HIG shares. Keefe, Bruyette & Woods increased 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 report on Wednesday, February 5th. Wells Fargo & Company reduced 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 report on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Piper Sandler increased 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. Finally, Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group 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.