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

Norges Bank purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,805,671 shares of the insurance provider’s stock, valued at approximately $416,340,000. Norges Bank owned 1.31% of The Hartford Financial Services Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HIG. Fisher Asset Management LLC acquired a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at $340,000. D.A. Davidson & CO. lifted its stake in shares of The Hartford Financial Services Group by 1.0% during the third quarter. D.A. Davidson & CO. now owns 19,247 shares of the insurance provider’s stock worth $2,264,000 after purchasing an additional 199 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of The Hartford Financial Services Group by 33.3% in the third quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider’s stock worth $924,000 after buying an additional 1,962 shares during the period. BNP Paribas acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at about $35,000. Finally, CreativeOne Wealth LLC raised its holdings in shares of The Hartford Financial Services Group by 328.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 11,343 shares of the insurance provider’s stock valued at $1,334,000 after buying an additional 8,698 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped 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. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Trading Down 0.6 %

The Hartford Financial Services Group stock opened at $122.21 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The firm’s 50-day moving average is $115.52 and its 200-day moving average is $115.27. 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 company has a market cap of $34.88 billion, a P/E ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) 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, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid 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 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.