The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,400 shares of the insurance provider's stock after buying an additional 5,400 shares during the period. Forsta AP Fonden's holdings in The Hartford Financial Services Group were worth $13,690,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in The Hartford Financial Services Group by 31,680.4% in the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider's stock worth $816,310,000 after acquiring an additional 691,900 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in The Hartford Financial Services Group by 72.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider's stock worth $137,633,000 after acquiring an additional 559,019 shares during the last quarter. Swedbank AB bought a new stake in The Hartford Financial Services Group in the 1st quarter worth $53,980,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in The Hartford Financial Services Group by 301.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider's stock worth $34,316,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in The Hartford Financial Services Group by 7.9% in the 1st quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider's stock worth $328,320,000 after acquiring an additional 233,742 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HIG shares. Barclays started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 price target on the stock. Morgan Stanley reduced their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group boosted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.76.

The Hartford Financial Services Group Stock Performance

Shares of HIG traded down $8.20 during mid-day trading on Friday, hitting $112.26. 2,956,001 shares of the company's stock were exchanged, compared to its average volume of 1,382,046. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.92 and a fifty-two week high of $123.23. The firm has a market capitalization of $33.20 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.99 and a beta of 0.93. The business's 50 day moving average is $116.31 and its two-hundred day moving average is $106.98. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the prior year, the company posted $1.88 earnings per share. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.02 earnings per share for the current year.

The Hartford Financial Services Group announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.85%. This is a boost from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 23.64%.

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.