The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd grew its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,700 shares of the insurance provider’s stock after buying an additional 10,190 shares during the quarter. The Hartford Financial Services Group accounts for 2.3% of EDENTREE ASSET MANAGEMENT Ltd’s holdings, making the stock its 21st largest holding. EDENTREE ASSET MANAGEMENT Ltd’s holdings in The Hartford Financial Services Group were worth $7,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in The Hartford Financial Services Group during the 4th quarter worth $416,340,000. AustralianSuper Pty Ltd grew its stake in The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares in the last quarter. Ameriprise Financial Inc. grew its stake in The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock worth $247,761,000 after purchasing an additional 735,170 shares in the last quarter. Proficio Capital Partners LLC grew its stake in 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in The Hartford Financial Services Group during the 4th quarter worth $65,256,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Down 1.2%

The Hartford Financial Services Group stock opened at $129.66 on Thursday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09. 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 capitalization of $36.84 billion, a P/E ratio of 12.53, a PEG ratio of 1.12 and a beta of 0.70. The stock has a 50-day simple moving average of $121.48 and a 200-day simple moving average of $116.66.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the business earned $2.34 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The Hartford Financial Services Group’s payout ratio is currently 20.74%.

Wall Street Analyst Weigh In

Several research analysts recently commented on HIG shares. Wells Fargo & Company lowered their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. UBS Group boosted their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price target on The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an “equal weight” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $129.71.

Insider Activity

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $26,385,250. This represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,086 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president now directly owns 622 shares of the company’s stock, valued at approximately $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,429 shares of company stock valued at $13,618,028. Insiders own 1.60% of the company’s stock.

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.