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

Allspring Global Investments Holdings LLC raised its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 70.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 131,739 shares of the insurance provider’s stock after acquiring 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB boosted its stake in The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of The Hartford Financial Services Group by 2.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock worth $135,052,000 after buying an additional 34,938 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of The Hartford Financial Services Group by 42.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after buying an additional 277,295 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of The Hartford Financial Services Group by 31,680.4% in the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after buying an additional 691,900 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Down 0.1 %

HIG opened at $112.19 on Tuesday. The firm has a market cap 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 Hartford Financial Services Group, Inc. has a 12 month low of $91.64 and a 12 month high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $111.02 and a 200 day moving average of $114.02.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Piper Sandler raised their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. BMO Capital Markets raised their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods raised their target price on 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. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.