SteelPeak Wealth LLC Sells 6,977 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

SteelPeak Wealth LLC lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 40.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,228 shares of the insurance provider’s stock after selling 6,977 shares during the quarter. SteelPeak Wealth LLC’s holdings in The Hartford Financial Services Group were worth $1,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in shares of The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares during the period. International Assets Investment Management LLC boosted its stake in The Hartford Financial Services Group by 31,680.4% during the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after buying an additional 691,900 shares during the period. Nordea Investment Management AB grew its position in The Hartford Financial Services Group by 17.3% during the fourth 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. 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 worth $110,000,000 after acquiring an additional 277,295 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of The Hartford Financial Services Group by 7,564.9% in the 3rd quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock valued at $29,243,000 after acquiring an additional 245,404 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $113.52 on Thursday. The company has a market capitalization of $32.91 billion, a P/E ratio of 11.37, a PEG ratio of 0.81 and a beta of 0.98. The Hartford Financial Services Group, Inc. has a fifty-two week low of $85.34 and a fifty-two week high of $124.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a 50 day moving average price of $113.30 and a two-hundred day moving average price of $113.35.

Wall Street Analysts Forecast Growth

HIG has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $134.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Bank of America raised their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group raised their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Nine 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 stock has a consensus rating of “Moderate Buy” and an average price target of $122.28.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

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.