New York Life Investment Management LLC Has $4.70 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

New York Life Investment Management LLC reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 42,979 shares of the insurance provider’s stock after selling 316 shares during the quarter. New York Life Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $4,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Equity Investment Corp lifted its holdings in The Hartford Financial Services Group by 1.0% in the 4th quarter. Equity Investment Corp now owns 585,344 shares of the insurance provider’s stock worth $64,037,000 after purchasing an additional 5,962 shares during the last quarter. SRN Advisors LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $743,000. Checchi Capital Advisers LLC increased its position in The Hartford Financial Services Group by 8.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,453 shares of the insurance provider’s stock worth $268,000 after buying an additional 185 shares during the period. Illinois Municipal Retirement Fund increased its position in The Hartford Financial Services Group by 5.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 166,181 shares of the insurance provider’s stock worth $18,180,000 after buying an additional 7,995 shares during the period. Finally, Horizon Advisory Services Inc. bought a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $277,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $118.44 on Friday. The business’s fifty day moving average price is $111.72 and its two-hundred day moving average price is $114.43. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.32 and a fifty-two week high of $124.90. The stock has a market capitalization of $33.80 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. 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 Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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 predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Analyst Ratings Changes

Several research analysts have commented on HIG shares. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Piper Sandler boosted 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 report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.