AustralianSuper Pty Ltd Acquires 881,224 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

AustralianSuper Pty Ltd lifted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 265.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,213,074 shares of the insurance provider’s stock after acquiring an additional 881,224 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.42% of The Hartford Financial Services Group worth $132,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HIG. Trust Co. of Vermont boosted its stake in The Hartford Financial Services Group by 27.9% in the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 88 shares during the period. Catalyst Financial Partners LLC boosted its stake in The Hartford Financial Services Group by 3.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after purchasing an additional 90 shares during the period. Barrett & Company Inc. boosted its stake in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Brooklyn Investment Group boosted its stake in The Hartford Financial Services Group by 4.0% in the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after purchasing an additional 94 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in The Hartford Financial Services Group by 2.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock valued at $489,000 after purchasing an additional 97 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of recent analyst reports. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. BMO Capital Markets upped 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 report on Wednesday, November 27th. Piper Sandler upped 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 report on Monday, February 3rd. Wells Fargo & Company lowered their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $112.19 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $91.64 and a 12-month high of $124.90. The business has a 50-day simple moving average of $111.17 and a two-hundred day simple moving average of $113.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $32.52 billion, a PE ratio of 10.84, a PEG 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 (EPS) for the quarter, topping analysts’ consensus estimates 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%. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.23 earnings per share for the current fiscal year.

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.