AMF Tjanstepension AB Acquires 1,770 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

AMF Tjanstepension AB increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,070 shares of the insurance provider’s stock after acquiring an additional 1,770 shares during the quarter. AMF Tjanstepension AB’s holdings in The Hartford Financial Services Group were worth $8,354,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth about $278,704,000. Hotchkis & Wiley Capital Management LLC grew its stake in The Hartford Financial Services Group by 26.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after buying an additional 1,272,290 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in The Hartford Financial Services Group by 144.3% during the third quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock worth $65,665,000 after buying an additional 546,969 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of The Hartford Financial Services Group by 20.2% in the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock valued at $237,600,000 after purchasing an additional 497,916 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of The Hartford Financial Services Group by 85.5% in the 4th quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock valued at $86,366,000 after purchasing an additional 495,192 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $105.00 price target on shares of The Hartford Financial Services Group in a research note on Friday. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley lowered their price target on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, TD Cowen raised their price target on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.71.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $100.54 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The company has a market cap of $29.74 billion, a P/E ratio of 11.43, a PEG ratio of 0.85 and a beta of 0.93. The company has a fifty day simple moving average of $100.65 and a 200 day simple moving average of $94.43. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $105.20.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The Hartford Financial Services Group’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. Sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is 21.36%.

Insiders Place Their Bets

In related news, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the transaction, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan R. Bennett sold 18,335 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. 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.