Korea Investment CORP Has $35.69 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Korea Investment CORP reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 326,190 shares of the insurance provider’s stock after selling 23,783 shares during the period. Korea Investment CORP’s holdings in The Hartford Financial Services Group were worth $35,685,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts have commented on HIG shares. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Piper Sandler lifted their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Ten 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 stock. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

Insider Transactions at The Hartford Financial Services Group

In related news, 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 value of $1,539,773.60. Following the completion of the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $122.21 on Friday. 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 $34.88 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $124.90. The company has a 50-day simple moving average of $115.52 and a 200 day simple moving average of $115.27.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 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, research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The Hartford Financial Services Group’s dividend payout ratio is presently 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.