Principal Financial Group Inc. Sells 7,335 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Principal Financial Group Inc. decreased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 346,538 shares of the insurance provider’s stock after selling 7,335 shares during the period. Principal Financial Group Inc.’s holdings in The Hartford Financial Services Group were worth $37,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Allspring Global Investments Holdings LLC boosted its position 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 worth $9,117,000 after acquiring an additional 2,279 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in The Hartford Financial Services Group by 98.0% during the third 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 during the last quarter. Private Advisor Group LLC lifted its position in The Hartford Financial Services Group by 23.9% during the third 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 during the last quarter. Lecap Asset Management Ltd. bought a new position in The Hartford Financial Services Group during the third quarter valued at $633,000. Finally, DT Investment Partners LLC bought a new position in The Hartford Financial Services Group during the third quarter valued at $26,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.9 %

HIG stock opened at $111.37 on Friday. The company has a market capitalization of $32.28 billion, a PE ratio of 10.76, a P/E/G ratio of 1.13 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 12 month low of $93.78 and a 12 month high of $124.90. The firm’s 50-day moving average is $110.96 and its 200 day moving average is $114.05. 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 posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. On average, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Analysts Set New Price Targets

HIG has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently 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.