Truist Financial Corp Has $14.14 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Truist Financial Corp lowered its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,246 shares of the insurance provider’s stock after selling 137 shares during the quarter. Truist Financial Corp’s holdings in The Hartford Financial Services Group were worth $14,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HIG. Allspring Global Investments Holdings LLC raised its holdings in shares of The Hartford Financial Services Group by 3.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock valued at $9,117,000 after purchasing an additional 2,279 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of The Hartford Financial Services Group by 5.2% during the 3rd quarter. Whittier Trust Co. now owns 3,655 shares of the insurance provider’s stock valued at $430,000 after purchasing an additional 180 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of The Hartford Financial Services Group by 98.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,668 shares of the insurance provider’s stock valued at $1,372,000 after purchasing an additional 5,775 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of The Hartford Financial Services Group by 23.9% during the 3rd quarter. Private Advisor Group LLC now owns 18,725 shares of the insurance provider’s stock valued at $2,202,000 after purchasing an additional 3,618 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at $633,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $112.39 on Friday. 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’s 50-day simple moving average is $110.93 and its 200-day simple moving average is $114.06. The Hartford Financial Services Group, Inc. has a twelve month low of $93.41 and a twelve month high of $124.90. The firm has a market cap of $32.58 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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%. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.85%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HIG. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price 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. Wells Fargo & Company dropped their target price 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. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets lifted their target price on shares of 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. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus 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.