DnB Asset Management AS Raises Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

DnB Asset Management AS boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 289,787 shares of the insurance provider’s stock after buying an additional 54,915 shares during the period. DnB Asset Management AS’s holdings in The Hartford Financial Services Group were worth $31,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $416,340,000. AustralianSuper Pty Ltd raised its stake in shares of The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after acquiring an additional 881,224 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in 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 valued at $95,322,000 after acquiring an additional 709,324 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of The Hartford Financial Services Group by 11,904.7% in the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 626,304 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in The Hartford Financial Services Group during the 4th quarter valued at about $65,256,000. 93.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.6 %

HIG stock opened at $122.21 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The business’s 50-day moving average is $115.52 and its 200 day moving average is $115.27. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued 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 return on equity of 19.55% and a net margin of 11.72%. On average, sell-side analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HIG. Wells Fargo & Company decreased their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Piper Sandler lifted their price objective on shares of 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. Finally, 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 stock from $130.00 to $135.00 in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

About The Hartford Financial Services Group

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.