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

Korea Investment CORP decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,190 shares of the insurance provider’s stock after selling 23,783 shares during the quarter. Korea Investment CORP owned about 0.11% of The Hartford Financial Services Group worth $35,685,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after purchasing an additional 202,487 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares during the period. Charles Schwab Investment Management Inc. grew its position in The Hartford Financial Services Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock worth $209,382,000 after buying an additional 39,585 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in The Hartford Financial Services Group by 8.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock worth $159,412,000 after acquiring an additional 114,716 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in The Hartford Financial Services Group by 2.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock valued at $135,052,000 after acquiring an additional 34,938 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on HIG shares. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Down 0.6 %

Shares of NYSE HIG opened at $122.21 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap 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 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 issued 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 forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is presently 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction 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 directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group 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.