Victory Capital Management Inc. Has $514.36 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Victory Capital Management Inc. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 makes up about 0.5% of Victory Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Victory Capital Management Inc. owned approximately 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 and other institutional investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in 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 increased 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 purchasing an additional 4,449 shares during 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 $19,005,000. Horizon Advisory Services Inc. bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $277,000. Finally, Citigroup Inc. increased 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 purchasing an additional 10,566 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HIG has been the topic of several recent analyst reports. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company reduced 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 report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective 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. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. 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 note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $119.77 on Tuesday. The firm has a market cap of $34.18 billion, a PE ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $111.92 and a 200-day moving average of $114.58. The Hartford Financial Services Group, Inc. has a 12-month low of $94.32 and a 12-month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. As a group, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed 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 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

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.