Canada Pension Plan Investment Board Has $37.99 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Canada Pension Plan Investment Board increased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 38.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,211 shares of the insurance provider’s stock after acquiring an additional 96,974 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of The Hartford Financial Services Group worth $37,985,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in The Hartford Financial Services Group during the fourth quarter valued at $416,340,000. AustralianSuper Pty Ltd boosted its holdings in The Hartford Financial Services Group by 265.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after purchasing an additional 881,224 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after acquiring an additional 709,324 shares during the period. Proficio Capital Partners LLC boosted its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock valued at $632,000 after acquiring an additional 626,304 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at $65,256,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $117.84 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08. The company has a 50 day simple moving average of $117.07 and a two-hundred day simple moving average of $115.35. The company has a market capitalization of $33.94 billion, a PE ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 0.68.

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 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%. Research analysts anticipate 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 was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of The Hartford Financial Services Group from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 11th. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Jefferies Financial Group cut their price objective on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a report on Friday, April 11th. Eight 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.13.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock worth $13,488,337 over the last three months. 1.60% of the stock is currently owned by insiders.

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.