EDENTREE ASSET MANAGEMENT Ltd Has $7.85 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

EDENTREE ASSET MANAGEMENT Ltd grew its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,700 shares of the insurance provider's stock after acquiring an additional 10,190 shares during the quarter. The Hartford Financial Services Group comprises 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.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at $416,340,000. AustralianSuper Pty Ltd lifted its holdings in The Hartford Financial Services Group by 265.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after buying an additional 881,224 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of The Hartford Financial Services Group by 48.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after purchasing an additional 735,170 shares during the period. Proficio Capital Partners LLC increased its position 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 valued at $632,000 after buying an additional 626,304 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $65,256,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock traded up $1.44 on Tuesday, reaching $130.36. 658,344 shares of the stock were exchanged, compared to its average volume of 1,567,700. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $122.03 and a two-hundred day moving average price of $116.99. The firm has a market capitalization of $37.04 billion, a PE ratio of 12.60, a PEG ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. As a group, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.74%.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group 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 transaction, the chief executive officer now owns 211,082 shares of the company's stock, valued at $25,412,161.98. This trade represents a 31.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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. This trade represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,429 shares of company stock worth $13,618,028. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HIG. Barclays raised their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. UBS Group lifted their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Morgan Stanley upped their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Seven 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.71.

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.