Handelsbanken Fonder AB Reduces Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Handelsbanken Fonder AB reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.2% during the 4th quarter, HoldingsChannel reports. The firm owned 47,302 shares of the insurance provider’s stock after selling 36,013 shares during the period. Handelsbanken Fonder AB’s holdings in The Hartford Financial Services Group were worth $5,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. grew its stake in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. BNP Paribas purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $35,000. DT Investment Partners LLC grew its stake in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $40,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HIG shares. 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. Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Down 0.9 %

NYSE:HIG opened at $111.37 on Monday. The Hartford Financial Services Group, Inc. has a 52 week low of $93.78 and a 52 week high of $124.90. The firm has a market capitalization of $32.28 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The stock has a 50 day moving average of $110.95 and a 200-day moving average of $114.22. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

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.