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

KLP Kapitalforvaltning AS acquired a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 265,494 shares of the insurance provider's stock, valued at approximately $29,162,000. KLP Kapitalforvaltning AS owned approximately 0.09% of The Hartford Financial Services Group as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $271,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in The Hartford Financial Services Group during the third quarter worth $1,717,000. Pacer Advisors Inc. grew its position in The Hartford Financial Services Group by 29.9% in the third quarter. Pacer Advisors Inc. now owns 58,293 shares of the insurance provider's stock valued at $6,856,000 after purchasing an additional 13,423 shares in the last quarter. Citigroup Inc. increased its stake in The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider's stock valued at $37,029,000 after buying an additional 10,566 shares during the last quarter. Finally, Nwam LLC bought a new stake in The Hartford Financial Services Group during the 3rd quarter worth about $332,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

Shares of HIG stock traded up $0.45 on Thursday, hitting $123.11. 1,640,118 shares of the company's stock were exchanged, compared to its average volume of 1,465,914. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company has a 50 day moving average of $115.10 and a 200 day moving average of $115.18. The stock has a market cap of $35.13 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

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The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts' consensus estimates 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%. On average, equities research analysts predict 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 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 dividend on an annualized basis and a yield of 1.69%. The Hartford Financial Services Group's payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered 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 report on Monday, February 3rd. StockNews.com cut The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. BMO Capital Markets boosted 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 report on Wednesday, November 27th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased 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 report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $122.94.

Insider Activity

In other news, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction that occurred 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. The trade was a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Swift sold 98,061 shares of the company's 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 directly 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 disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.