Canada Pension Plan Investment Board Acquires 96,974 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Canada Pension Plan Investment Board increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 38.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 approximately 0.12% of The Hartford Financial Services Group worth $37,985,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Horizon Advisory Services Inc. acquired a new stake in The Hartford Financial Services Group during the fourth quarter valued at approximately $277,000. Assenagon Asset Management S.A. lifted its holdings in The Hartford Financial Services Group by 437.9% in the fourth 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 last quarter. Victory Capital Management Inc. boosted its stake in The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after acquiring an additional 202,487 shares during the period. Suncoast Equity Management bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $311,000. Finally, Empowered Funds LLC raised its position in shares of The Hartford Financial Services Group by 62.1% during the 4th quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider's stock worth $3,131,000 after purchasing an additional 10,964 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. StockNews.com raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Finally, Piper Sandler lifted their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of "Moderate Buy" and a consensus target price of $124.13.

The Hartford Financial Services Group Trading Up 0.3 %

Shares of HIG traded up $0.31 during midday trading on Thursday, hitting $119.36. The stock had a trading volume of 540,159 shares, compared to its average volume of 1,716,252. The business has a 50-day simple moving average of $117.40 and a two-hundred day simple moving average of $115.35. The firm has a market cap of $34.38 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. 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, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. As a group, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were 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 was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The shares were 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 of the company's stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the company'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 completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 112,343 shares of company stock valued at $13,488,337. Corporate insiders own 1.60% of the company's stock.

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.