Handelsbanken Fonder AB Raises Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Handelsbanken Fonder AB boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,288 shares of the insurance provider’s stock after purchasing an additional 15,559 shares during the quarter. Handelsbanken Fonder AB’s holdings in The Hartford Financial Services Group were worth $4,444,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HIG. GoalVest Advisory LLC raised its holdings in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Selway Asset Management acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.8 %

NYSE:HIG opened at $99.09 on Friday. The firm has a market cap of $29.46 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The stock has a fifty day moving average price of $98.45 and a 200 day moving average price of $86.07. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.04). The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.68 earnings per share. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is presently 23.53%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the sale, the executive vice president now directly owns 46,792 shares in the company, valued at $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the sale, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the sale, the executive vice president now owns 46,792 shares in the company, valued at approximately $4,397,044.24. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock worth $10,141,126 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HIG. Citigroup increased their price target on The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Evercore ISI increased their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen increased their price objective on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.56.

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.