DnB Asset Management AS Buys 54,915 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

DnB Asset Management AS grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 289,787 shares of the insurance provider’s stock after acquiring an additional 54,915 shares during the period. DnB Asset Management AS owned about 0.10% of The Hartford Financial Services Group worth $31,703,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. boosted its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. BNP Paribas purchased a new position in The Hartford Financial Services Group in the 3rd quarter valued at approximately $35,000. DT Investment Partners LLC raised its holdings in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated 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 of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction 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 stock in a transaction dated 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent research reports. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler upped their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Ten equities research 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 stock presently has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Trading Down 0.6 %

NYSE HIG opened at $122.21 on Friday. The stock has a market cap of $34.88 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The stock has a 50 day simple moving average of $115.52 and a two-hundred day simple moving average of $115.27. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 1.70%. The Hartford Financial Services Group’s payout ratio is currently 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.