The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 53.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,664 shares of the insurance provider's stock after selling 47,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in The Hartford Financial Services Group were worth $4,558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Howard Capital Management Inc. boosted its position in shares of The Hartford Financial Services Group by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider's stock valued at $237,000 after acquiring an additional 108 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in The Hartford Financial Services Group by 20.8% during the 4th quarter. Wealthspire Advisors LLC now owns 2,789 shares of the insurance provider's stock valued at $305,000 after buying an additional 481 shares during the period. Allianz Asset Management GmbH raised its holdings in The Hartford Financial Services Group by 43.8% during the 4th quarter. Allianz Asset Management GmbH now owns 809,411 shares of the insurance provider's stock valued at $88,550,000 after buying an additional 246,528 shares during the period. Suncoast Equity Management purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at $311,000. Finally, ING Groep NV purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at $1,433,000. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HIG. Piper Sandler increased their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. BMO Capital Markets increased their target price on 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Up 0.8 %

Shares of The Hartford Financial Services Group stock traded up $0.97 during trading on Friday, hitting $118.44. 4,524,590 shares of the stock traded hands, compared to its average volume of 1,747,292. The firm has a market cap of $33.80 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. 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 52-week low of $94.32 and a 52-week high of $124.90. The stock's fifty day simple moving average is $111.72 and its 200 day simple moving average is $114.43.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results 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%. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The Hartford Financial Services Group's dividend payout ratio is presently 20.10%.

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.