Chevy Chase Trust Holdings LLC Cuts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 152,759 shares of the insurance provider’s stock after selling 4,980 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in The Hartford Financial Services Group were worth $16,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Nordea Investment Management AB raised its stake in shares of 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 worth $430,272,000 after buying an additional 581,103 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in 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 valued at $135,052,000 after purchasing an additional 34,938 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in 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 valued at $110,000,000 after purchasing an additional 277,295 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in 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 valued at $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in 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 valued at $816,310,000 after purchasing an additional 691,900 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Price Performance

HIG stock opened at $112.19 on Friday. The Hartford Financial Services Group, Inc. has a 52-week low of $91.64 and a 52-week high of $124.90. The stock’s fifty day simple moving average is $111.02 and its 200-day simple moving average is $113.98. 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 capitalization of $32.52 billion, a price-to-earnings ratio of 10.84, 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, topping 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%. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HIG. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, Piper Sandler increased their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Nine 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.