Victory Capital Management Inc. Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Victory Capital Management Inc. boosted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,701,675 shares of the insurance provider's stock after acquiring an additional 202,487 shares during the period. The Hartford Financial Services Group accounts for about 0.5% of Victory Capital Management Inc.'s portfolio, making the stock its 19th biggest position. Victory Capital Management Inc. owned about 1.62% of The Hartford Financial Services Group worth $514,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. increased its stake in shares of 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 valued at $32,000 after purchasing an additional 93 shares during the last quarter. BNP Paribas bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $35,000. DT Investment Partners LLC increased its stake in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. Finally, Key Financial Inc increased its stake in shares of The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Down 2.2 %

HIG traded down $2.63 during midday trading on Tuesday, reaching $117.14. 2,332,661 shares of the company were exchanged, compared to its average volume of 1,768,343. 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's fifty day moving average price is $112.05 and its 200 day moving average price is $114.63. The company has a market cap of $33.43 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, analysts expect 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 disclosed 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 annualized dividend and a yield of 1.78%. The Hartford Financial Services Group's payout ratio is 20.10%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HIG. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. BMO Capital Markets lifted their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a "market perform" rating in a report on Wednesday, November 27th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $122.94.

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.