Handelsbanken Fonder AB Cuts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Handelsbanken Fonder AB decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 43.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,302 shares of the insurance provider's stock after selling 36,013 shares during the quarter. Handelsbanken Fonder AB's holdings in The Hartford Financial Services Group were worth $5,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its holdings in shares of The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider's stock valued at $13,063,000 after buying an additional 7,350 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its stake in The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider's stock valued at $16,172,000 after purchasing an additional 4,449 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of The Hartford Financial Services Group in the third quarter valued at about $19,005,000. Citigroup Inc. raised its stake in shares of The Hartford Financial Services Group by 3.5% in the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider's stock worth $37,029,000 after purchasing an additional 10,566 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after purchasing an additional 709,324 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 1.7 %

Shares of NYSE HIG traded up $2.00 during midday trading on Thursday, reaching $117.58. 1,362,773 shares of the stock were exchanged, compared to its average volume of 1,674,205. The stock has a market capitalization of $33.56 billion, a P/E ratio of 11.36, a PEG ratio of 1.12 and a beta of 0.97. 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 company has a 50 day simple moving average of $111.33 and a 200 day simple moving average of $114.33. The Hartford Financial Services Group, Inc. has a twelve month low of $94.32 and a twelve month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its earnings results 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 analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HIG. 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 report on Monday, February 3rd. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upped 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. Keefe, Bruyette & Woods raised their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Finally, Barclays raised The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.94.

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.