Nordea Investment Management AB Acquires 581,103 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Nordea Investment Management AB increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 17.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,938,421 shares of the insurance provider’s stock after purchasing an additional 581,103 shares during the period. Nordea Investment Management AB’s holdings in The Hartford Financial Services Group were worth $430,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of The Hartford Financial Services Group by 6.1% in the fourth quarter. GAMMA Investing LLC now owns 10,064 shares of the insurance provider’s stock worth $1,101,000 after acquiring an additional 581 shares during the period. Versant Capital Management Inc lifted its holdings in The Hartford Financial Services Group by 62.6% during the 4th quarter. Versant Capital Management Inc now owns 470 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 181 shares in the last quarter. Principal Financial Group Inc. boosted its stake in The Hartford Financial Services Group by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 353,873 shares of the insurance provider’s stock worth $41,619,000 after purchasing an additional 6,605 shares during the period. SMART Wealth LLC purchased a new position in The Hartford Financial Services Group during the 3rd quarter valued at about $258,000. Finally, Peapack Gladstone Financial Corp bought a new stake in shares of The Hartford Financial Services Group during the third quarter valued at about $420,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 0.4 %

NYSE HIG opened at $109.50 on Monday. The stock has a 50-day moving average of $114.75 and a 200-day moving average of $112.22. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a 1-year low of $81.04 and a 1-year high of $124.90. The firm has a market cap of $31.74 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Monday, December 2nd. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is 20.84%.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America boosted 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 note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group upped their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

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.