Allspring Global Investments Holdings LLC Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Allspring Global Investments Holdings LLC lifted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 70.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,739 shares of the insurance provider’s stock after purchasing an additional 54,224 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Hartford Financial Services Group were worth $14,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Exchange Traded Concepts LLC purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth about $178,000. Creative Planning boosted its holdings in shares of The Hartford Financial Services Group by 2.9% in the 3rd quarter. Creative Planning now owns 79,105 shares of the insurance provider’s stock worth $9,304,000 after purchasing an additional 2,237 shares in the last quarter. Net Worth Advisory Group purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth about $350,000. Blue Trust Inc. lifted its stake in shares of The Hartford Financial Services Group by 61.5% in the 3rd quarter. Blue Trust Inc. now owns 5,150 shares of the insurance provider’s stock valued at $606,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Means Investment CO. Inc. bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $211,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Down 0.1 %

Shares of NYSE:HIG opened at $112.19 on Tuesday. The Hartford Financial Services Group, Inc. has a 52-week low of $91.64 and a 52-week high of $124.90. The firm has a market capitalization of $32.52 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.12 and a beta of 0.97. The stock has a 50 day moving average price of $111.02 and a 200-day moving average price of $114.02. 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 Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results 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 return on equity of 19.55% and a net margin of 11.72%. As a group, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler boosted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their target price on 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. Finally, StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Company 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.