Zurcher Kantonalbank Zurich Cantonalbank Purchases 146,255 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 71.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 351,026 shares of the insurance provider’s stock after buying an additional 146,255 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of The Hartford Financial Services Group worth $38,402,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in HIG. Principal Financial Group Inc. grew its stake in shares of The Hartford Financial Services Group by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 353,873 shares of the insurance provider’s stock valued at $41,619,000 after buying an additional 6,605 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in The Hartford Financial Services Group during the third quarter worth approximately $205,000. Tyler Stone Wealth Management boosted its position in The Hartford Financial Services Group by 241.0% during the third quarter. Tyler Stone Wealth Management now owns 1,879 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 1,328 shares during the period. Ashton Thomas Securities LLC bought a new stake in The Hartford Financial Services Group during the third quarter worth approximately $40,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in The Hartford Financial Services Group during the third quarter worth approximately $474,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $117.34 on Tuesday. The business’s fifty day moving average price is $112.63 and its two-hundred day moving average price is $114.80. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The stock has a market capitalization of $33.49 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. As a group, analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HIG shares. Piper Sandler upped their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. BMO Capital Markets upped 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 research report on Wednesday, November 27th. Finally, Wells Fargo & Company decreased 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 report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.94.

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.