Cornercap Investment Counsel Inc. Sells 2,074 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cornercap Investment Counsel Inc. trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 13.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,612 shares of the insurance provider’s stock after selling 2,074 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in The Hartford Financial Services Group were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of The Hartford Financial Services Group by 3,342.9% during 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 period. Barrett & Company Inc. boosted its position in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. BNP Paribas purchased a new position in The Hartford Financial Services Group during the third quarter valued at approximately $35,000. DT Investment Partners LLC lifted its stake in 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 worth $36,000 after purchasing an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at $36,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $122.21 on Friday. 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 firm’s fifty day simple moving average is $115.52 and its 200 day simple moving average is $115.27. The stock has a market cap of $34.88 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its 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 net margin of 11.72% and a return on equity of 19.55%. As a group, research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company 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 annualized dividend and a yield of 1.70%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HIG shares. Wells Fargo & Company lowered 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. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Piper Sandler lifted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $122.94.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

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.