KLP Kapitalforvaltning AS Buys New Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

KLP Kapitalforvaltning AS purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 265,494 shares of the insurance provider’s stock, valued at approximately $29,162,000.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of The Hartford Financial Services Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after purchasing an additional 202,487 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after acquiring an additional 581,103 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock valued at $209,382,000 after acquiring an additional 39,585 shares during the last quarter. Bahl & Gaynor Inc. raised its position in shares of The Hartford Financial Services Group by 8.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock worth $159,412,000 after acquiring an additional 114,716 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in The Hartford Financial Services Group by 2.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock worth $135,052,000 after purchasing an additional 34,938 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Down 0.4 %

Shares of NYSE:HIG opened at $119.20 on Friday. The firm’s 50-day simple moving average is $114.36 and its 200-day simple moving average is $115.04. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $34.02 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. BMO Capital Markets lifted their price target on shares of 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. Keefe, Bruyette & Woods upped 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 note on Wednesday, February 5th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. Finally, StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $122.94.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % 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. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.