KLP Kapitalforvaltning AS Makes New $29.16 Million Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

KLP Kapitalforvaltning AS acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 265,494 shares of the insurance provider’s stock, valued at approximately $29,162,000. KLP Kapitalforvaltning AS owned 0.09% of The Hartford Financial Services Group as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of HIG. AustralianSuper Pty Ltd raised its position in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after acquiring an additional 881,224 shares during the period. Assenagon Asset Management S.A. raised its position in shares of The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 626,304 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $65,256,000. Finally, Nordea Investment Management AB raised its position in shares of The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $119.20 on Friday. The firm has a 50 day simple moving average of $114.36 and a 200-day simple moving average of $115.04. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year 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 stock has a market cap of $34.02 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last posted 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 net margin of 11.72% and a return on equity of 19.55%. On average, analysts expect 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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets upped their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. 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 note on Monday, February 3rd. Keefe, Bruyette & Woods upped 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 note on Wednesday, February 5th. Finally, 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. Ten equities 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. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group 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.