Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 53.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,664 shares of the insurance provider’s stock after selling 47,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Hartford Financial Services Group were worth $4,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its position in shares of The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after buying an additional 90 shares in the last quarter. Barrett & Company Inc. increased its position in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. Brooklyn Investment Group lifted its holdings in The Hartford Financial Services Group by 4.0% during the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after acquiring an additional 94 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after acquiring an additional 97 shares during the period. Finally, Lifestyle Asset Management Inc. boosted its position in The Hartford Financial Services Group by 0.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after purchasing an additional 98 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HIG shares. BMO Capital Markets raised their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $116.53 on Wednesday. The Hartford Financial Services Group, Inc. has a 1-year low of $94.32 and a 1-year high of $124.90. 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 firm has a market capitalization of $33.78 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The firm’s 50 day simple moving average is $111.16 and its 200 day simple moving average is $114.32.

The Hartford Financial Services Group (NYSE:HIG) last released 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 net margin of 11.72% and a return on equity of 19.55%. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 dividend on an annualized basis and a yield of 1.79%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

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.