Livforsakringsbolaget Skandia Omsesidigt Lowers Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 110,565 shares of the insurance provider’s stock after selling 500 shares during the period. The Hartford Financial Services Group accounts for 0.6% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 29th largest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Hartford Financial Services Group were worth $12,145,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HIG. Czech National Bank lifted its holdings in The Hartford Financial Services Group by 5.9% during the third quarter. Czech National Bank now owns 59,690 shares of the insurance provider’s stock valued at $7,020,000 after purchasing an additional 3,331 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of The Hartford Financial Services Group by 14.8% during the third quarter. Atomi Financial Group Inc. now owns 4,809 shares of the insurance provider’s stock valued at $566,000 after buying an additional 619 shares during the last quarter. CWM LLC raised its position in shares of The Hartford Financial Services Group by 7.9% during the third quarter. CWM LLC now owns 15,048 shares of the insurance provider’s stock valued at $1,770,000 after buying an additional 1,106 shares during the last quarter. Marcum Wealth LLC bought a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $209,000. Finally, Wedmont Private Capital raised its position in shares of The Hartford Financial Services Group by 4.0% during the third quarter. Wedmont Private Capital now owns 4,137 shares of the insurance provider’s stock valued at $473,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of 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, Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Down 0.2 %

Shares of HIG opened at $113.39 on Friday. The firm has a market capitalization of $32.87 billion, a P/E ratio of 10.96, a P/E/G ratio of 0.81 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 12-month low of $89.04 and a 12-month high of $124.90. 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 firm has a fifty day moving average price of $112.31 and a 200-day moving average price of $113.68.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.46 earnings per share for the current year.

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.