Handelsbanken Fonder AB Sells 36,013 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Handelsbanken Fonder AB decreased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,302 shares of the insurance provider’s stock after selling 36,013 shares during the quarter. Handelsbanken Fonder AB’s holdings in The Hartford Financial Services Group were worth $5,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HIG. Allspring Global Investments Holdings LLC grew its position in shares of The Hartford Financial Services Group by 3.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock worth $9,117,000 after buying an additional 2,279 shares in the last quarter. Private Advisor Group LLC boosted 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in The Hartford Financial Services Group by 40.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,610 shares of the insurance provider’s stock valued at $7,545,000 after purchasing an additional 18,615 shares in the last quarter. Forsta AP Fonden boosted its position in The Hartford Financial Services Group by 4.9% during the third quarter. Forsta AP Fonden now owns 116,400 shares of the insurance provider’s stock valued at $13,690,000 after purchasing an additional 5,400 shares in the last quarter. Finally, PFG Investments LLC boosted its position in The Hartford Financial Services Group by 5.5% during the third quarter. PFG Investments LLC now owns 2,631 shares of the insurance provider’s stock valued at $309,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $111.37 on Monday. The stock’s fifty day moving average is $110.95 and its two-hundred day moving average is $114.22. The firm has a market capitalization of $32.28 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $93.78 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating 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, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend 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 presently 20.10%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HIG. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on 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. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Piper Sandler raised their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets raised their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Nine equities research 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 stock. 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.