Korea Investment CORP Sells 23,783 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Korea Investment CORP lowered its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,190 shares of the insurance provider's stock after selling 23,783 shares during the period. Korea Investment CORP owned approximately 0.11% of The Hartford Financial Services Group worth $35,685,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Catalyst Financial Partners LLC lifted its position in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock worth $337,000 after purchasing an additional 90 shares in the last quarter. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock worth $32,000 after buying an additional 93 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider's stock valued at $489,000 after acquiring an additional 97 shares in the last quarter. Lifestyle Asset Management Inc. increased its position in shares of The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider's stock worth $1,258,000 after acquiring an additional 98 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in shares of The Hartford Financial Services Group by 26.7% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider's stock worth $51,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Piper Sandler upped their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday. Barclays raised shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Raymond James increased their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday. 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 report on Monday, February 3rd. Ten investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $124.61.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded down $0.21 during mid-day trading on Wednesday, reaching $124.18. 315,441 shares of the stock were exchanged, compared to its average volume of 1,720,497. 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 current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $35.44 billion, a PE ratio of 11.99, a PEG ratio of 1.12 and a beta of 0.91. The business has a fifty day moving average price of $116.00 and a 200 day moving average price of $115.39.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Research analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business'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 transaction, the executive vice president now 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.

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.