Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 53.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,664 shares of the insurance provider’s stock after selling 47,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Hartford Financial Services Group were worth $4,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Howard Capital Management Inc. boosted its holdings in The Hartford Financial Services Group by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 108 shares during the period. Wealthspire Advisors LLC lifted its position in The Hartford Financial Services Group by 20.8% in the fourth quarter. Wealthspire Advisors LLC now owns 2,789 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 481 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of The Hartford Financial Services Group by 43.8% during the fourth quarter. Allianz Asset Management GmbH now owns 809,411 shares of the insurance provider’s stock valued at $88,550,000 after purchasing an additional 246,528 shares during the period. Suncoast Equity Management bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $311,000. Finally, ING Groep NV purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter worth $1,433,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Up 2.4 %

NYSE:HIG opened at $116.53 on Wednesday. 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 firm’s 50-day moving average price is $111.16 and its 200-day moving average price is $114.32. The company has a market capitalization of $33.78 billion, a PE ratio of 11.26, a P/E/G ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 1-year low of $94.32 and a 1-year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 1.79%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Piper Sandler boosted their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on 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. Finally, Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently 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.