Summit Place Financial Advisors LLC Has $2.93 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Summit Place Financial Advisors LLC lifted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,745 shares of the insurance provider’s stock after purchasing an additional 835 shares during the quarter. The Hartford Financial Services Group accounts for 1.7% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 24th largest position. Summit Place Financial Advisors LLC’s holdings in The Hartford Financial Services Group were worth $2,926,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC bought a new stake in The Hartford Financial Services Group in the third quarter valued at $178,000. Creative Planning grew its position in The Hartford Financial Services Group by 2.9% in the third quarter. Creative Planning now owns 79,105 shares of the insurance provider’s stock valued at $9,304,000 after acquiring an additional 2,237 shares during the period. Blue Trust Inc. grew its position in The Hartford Financial Services Group by 61.5% in the third 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 period. OLD National Bancorp IN lifted its stake in shares of The Hartford Financial Services Group by 34.3% during the third quarter. OLD National Bancorp IN now owns 3,428 shares of the insurance provider’s stock valued at $403,000 after acquiring an additional 875 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of The Hartford Financial Services Group by 3.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock valued at $9,117,000 after acquiring an additional 2,279 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HIG. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler upped their price target 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. JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Barclays raised 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 note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Trading Up 0.6 %

NYSE HIG opened at $112.70 on Wednesday. The firm has a market cap of $32.67 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.12 and a beta of 0.97. 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 stock’s 50-day moving average is $110.94 and its 200-day moving average is $114.04. The Hartford Financial Services Group, Inc. has a one year low of $92.54 and a one year high of $124.90.

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 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%. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 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.