Kentucky Retirement Systems Has $2.20 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Kentucky Retirement Systems trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,136 shares of the insurance provider’s stock after selling 277 shares during the quarter. Kentucky Retirement Systems’ holdings in The Hartford Financial Services Group were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HIG. HighTower Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after acquiring an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in shares of The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after acquiring an additional 4,449 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $19,005,000. Citigroup Inc. raised its stake in shares of The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after acquiring an additional 10,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after acquiring an additional 709,324 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $111.37 on Friday. The stock’s fifty day simple moving average is $110.95 and its 200 day simple moving average is $114.09. 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 $32.28 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a one year low of $93.78 and a one year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 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%. On average, 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 Dividend Announcement

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. This represents a $2.08 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective 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. 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 research note on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets lifted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $122.94.

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.