Norges Bank Buys Shares of 3,805,671 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Norges Bank acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,805,671 shares of the insurance provider's stock, valued at approximately $416,340,000. Norges Bank owned about 1.31% of The Hartford Financial Services Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC acquired a new position in shares of The Hartford Financial Services Group in the third quarter valued at approximately $340,000. D.A. Davidson & CO. increased its position in The Hartford Financial Services Group by 1.0% in the 3rd quarter. D.A. Davidson & CO. now owns 19,247 shares of the insurance provider's stock valued at $2,264,000 after acquiring an additional 199 shares during the period. Townsquare Capital LLC raised its stake in shares of The Hartford Financial Services Group by 33.3% during the third quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider's stock valued at $924,000 after acquiring an additional 1,962 shares during the last quarter. BNP Paribas acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth $35,000. Finally, CreativeOne Wealth LLC grew its stake in shares of The Hartford Financial Services Group by 328.8% in the third quarter. CreativeOne Wealth LLC now owns 11,343 shares of the insurance provider's stock worth $1,334,000 after purchasing an additional 8,698 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Up 0.1 %

Shares of HIG traded up $0.08 on Wednesday, reaching $124.47. The company's stock had a trading volume of 367,549 shares, compared to its average volume of 1,573,570. The stock has a market capitalization of $35.52 billion, a PE ratio of 12.03, a PEG ratio of 1.12 and a beta of 0.91. 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 twelve month low of $94.47 and a twelve month high of $124.90. The firm has a fifty day moving average of $116.00 and a 200-day moving average of $115.39.

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 for the quarter, beating 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%. Equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The Hartford Financial Services Group's payout ratio is 20.10%.

Insider Activity

In other The Hartford Financial Services Group news, 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 value of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $11,805,563.79. Following the completion of the transaction, 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted 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. Wells Fargo & Company cut their price objective 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. Royal Bank of Canada reissued a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Piper Sandler increased their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $124.61.

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.