The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 27.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 221,896 shares of the insurance provider’s stock after acquiring an additional 48,004 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in The Hartford Financial Services Group were worth $22,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HIG. Hotchkis & Wiley Capital Management LLC grew its stake in shares of The Hartford Financial Services Group by 26.2% in 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 acquiring an additional 1,272,290 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in The Hartford Financial Services Group by 72.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after purchasing an additional 559,019 shares in the last quarter. Swedbank AB acquired a new position in The Hartford Financial Services Group during the 1st quarter worth $53,980,000. KBC Group NV raised its position in 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. Finally, Bank of Nova Scotia boosted its stake in shares of The Hartford Financial Services Group by 793.3% in the 4th quarter. Bank of Nova Scotia now owns 325,412 shares of the insurance provider’s stock valued at $26,156,000 after buying an additional 288,984 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $116.32 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $117.84. The company has a market capitalization of $34.40 billion, a PE ratio of 13.22, a P/E/G ratio of 0.91 and a beta of 0.93. The company has a fifty day moving average of $110.62 and a two-hundred day moving average of $103.83.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.62%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

The Hartford Financial Services Group announced that its Board of Directors has approved a share buyback plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of recent research reports. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Wells Fargo & Company increased their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Bank of America dropped their target price on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $113.22.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

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.