Benin Management Has Raised Its Stake in Hartford Finl Svcs Group (HIG) by $496,740 as Market Value Declined; Corecommodity Management Cut Its Position in Posco (PKX) as Share Price Declined

June 17, 2018 - By Linda Rogers

The Hartford Financial Services Group, Inc. (NYSE:HIG) Logo

Benin Management Corp increased its stake in Hartford Finl Svcs Group Inc (HIG) by 6.37% based on its latest 2018Q1 regulatory filing with the SEC. Benin Management Corp bought 9,740 shares as the company’s stock declined 2.90% with the market. The institutional investor held 162,661 shares of the finance company at the end of 2018Q1, valued at $8.38 million, up from 152,921 at the end of the previous reported quarter. Benin Management Corp who had been investing in Hartford Finl Svcs Group Inc for a number of months, seems to be bullish on the $19.25B market cap company. The stock increased 1.28% or $0.68 during the last trading session, reaching $53.76. About 4.23 million shares traded or 111.04% up from the average. The Hartford Financial Services Group, Inc. (NYSE:HIG) has risen 6.44% since June 17, 2017 and is uptrending. It has underperformed by 6.13% the S&P500. Some Historical HIG News: 03/04/2018 – Hartford Financial Services Gr CDS Widens 7 Bps, Most in 18 Mos; 30/03/2018 – HARTFORD FINANCIAL SERVICES GROUP-AMENDED CREDIT AGREEMENT WILL ALSO PERMIT CO TO REQUEST INCREASE OF CREDIT FACILITY BY UP TO ADDITIONAL $500 MLN; 13/03/2018 – Hartford Fincl: Amendment Would Reset Minimum Consolidated Net Worth Fincl Covenant to $9B; 26/04/2018 – Hartford Financial 1Q EPS $1.64; 14/03/2018 – A.M. Best Assigns Issue Credit Rating to The Hartford Financial Services Group, Inc.’s Senior Unsecured Notes; 26/04/2018 – Hartford Financial 1Q Net $597M; 14/05/2018 – York Adds Hartford Financial, Exits Qualcomm: 13F; 26/04/2018 – The Hartford Book Value/Share $36.06 at Quarter’s End; 26/04/2018 – The Hartford Reports First Quarter 2018 Income From Continuing Operations, After Tax, Of $428 Million ($1.18 Per Diluted Share); 09/04/2018 – The Hartford Launches Admitted Cyber Liability Policy

Corecommodity Management Llc decreased its stake in Posco (PKX) by 63.35% based on its latest 2018Q1 regulatory filing with the SEC. Corecommodity Management Llc sold 7,697 shares as the company’s stock declined 6.02% with the market. The institutional investor held 4,453 shares of the steel and iron ore company at the end of 2018Q1, valued at $351,000, down from 12,150 at the end of the previous reported quarter. Corecommodity Management Llc who had been investing in Posco for a number of months, seems to be less bullish one the $26.42 billion market cap company. The stock decreased 2.75% or $2.31 during the last trading session, reaching $81.68. About 128,604 shares traded. POSCO (NYSE:PKX) has risen 27.23% since June 17, 2017 and is uptrending. It has outperformed by 14.66% the S&P500. Some Historical PKX News: 18/04/2018 – POSCO AUST. LISTED AS OWNER OF 6.93% OF JUPITER MINES: NOTICE; 18/04/2018 – Posco chief to step down after political pressure; 28/05/2018 – GALAXY RESOURCES LTD GXY.AX – PROCEEDS FROM DEAL WITH POSCO TO BE AVAILABLE TO PROGRESS DEVELOPMENT OF SAL DE VIDA IN CATAMARCA PROVINCE; 02/04/2018 – POSCO EQUITY INVESTMENT IN PILBARA MINERALS COMPLETED; 17/04/2018 – CEO of S.Korea’s steelmaker POSCO offers to resign; 17/05/2018 – Serengeti / POSCO DAEWOO Subsidiary, Kwanika Copper Corp Selects Merit Consultants International to Lead Pre-Feasibility Study; 17/04/2018 – POSCO SAYS CEO OFFERS TO RESIGN; 28/05/2018 – Galaxy Resources to Sell Argentina Tenements to Posco for US$280M; 10/03/2018 – S.Korea’s POSCO, Samsung SDI agree to build cathode plant in Chile by 2021; 01/05/2018 – POSCO IS ALSO SAID TO EXPRESS INTEREST IN STAKE IN WODGINA MINE

Benin Management Corp, which manages about $278.88M and $222.37 million US Long portfolio, decreased its stake in General Electric Co (NYSE:GE) by 32,409 shares to 103,316 shares, valued at $1.39 million in 2018Q1, according to the filing. It also reduced its holding in Northern Tr Corp (NASDAQ:NTRS) by 5,900 shares in the quarter, leaving it with 19,125 shares, and cut its stake in Visa Inc (NYSE:V).

More recent The Hartford Financial Services Group, Inc. (NYSE:HIG) news were published by: Nasdaq.com which released: “KBW Announces Index Rebalancing for Second-Quarter 2018” on June 09, 2018. Also Investorplace.com published the news titled: “5 Insurers in Focus as Fed Hikes Rate, Raises Economic View” on June 14, 2018. Seekingalpha.com‘s news article titled: “Tracking Ole Andreas Halvorsen’s Viking Global Portfolio – Q1 2018 Update” with publication date: May 27, 2018 was also an interesting one.

Among 18 analysts covering Hartford Financial (NYSE:HIG), 10 have Buy rating, 0 Sell and 8 Hold. Therefore 56% are positive. Hartford Financial had 51 analyst reports since July 28, 2015 according to SRatingsIntel. M Partners maintained The Hartford Financial Services Group, Inc. (NYSE:HIG) on Friday, July 29 with “Buy” rating. The stock of The Hartford Financial Services Group, Inc. (NYSE:HIG) has “Hold” rating given on Wednesday, December 20 by Citigroup. As per Monday, October 16, the company rating was maintained by Barclays Capital. RBC Capital Markets maintained it with “Sector Perform” rating and $44 target in Tuesday, October 27 report. Keefe Bruyette & Woods maintained The Hartford Financial Services Group, Inc. (NYSE:HIG) rating on Thursday, July 27. Keefe Bruyette & Woods has “Buy” rating and $5800 target. The stock of The Hartford Financial Services Group, Inc. (NYSE:HIG) has “Buy” rating given on Monday, September 11 by Buckingham Research. The stock of The Hartford Financial Services Group, Inc. (NYSE:HIG) earned “Buy” rating by RBC Capital Markets on Monday, October 9. The firm has “Outperform” rating by Credit Suisse given on Tuesday, December 19. The firm has “Neutral” rating by Atlantic Securities given on Wednesday, October 28. The company was maintained on Tuesday, April 10 by Citigroup.

Investors sentiment decreased to 0.71 in Q1 2018. Its down 0.03, from 0.74 in 2017Q4. It fall, as 39 investors sold HIG shares while 222 reduced holdings. 64 funds opened positions while 122 raised stakes. 306.29 million shares or 0.13% more from 305.90 million shares in 2017Q4 were reported. Parallax Volatility Advisers Lp invested in 14,271 shares. Price T Rowe Assoc Md accumulated 639,900 shares or 0.01% of the stock. Plante Moran Financial Advsrs Limited Liability Corporation holds 0.01% or 389 shares in its portfolio. New York-based Intl Grp Inc Incorporated has invested 0.02% in The Hartford Financial Services Group, Inc. (NYSE:HIG). Sandy Spring Bancorporation has 0.01% invested in The Hartford Financial Services Group, Inc. (NYSE:HIG). Lombard Odier Asset Mgmt (Europe) Ltd owns 3,885 shares. Parametric Port Associate Ltd Company owns 1.44 million shares. Umb Bank N A Mo invested 0.1% of its portfolio in The Hartford Financial Services Group, Inc. (NYSE:HIG). Global X Mgmt Lc reported 9,049 shares or 0.01% of all its holdings. Optimum Invest stated it has 0% of its portfolio in The Hartford Financial Services Group, Inc. (NYSE:HIG). Lpl Financial Limited Com accumulated 0% or 32,750 shares. First Tru Advsrs LP has invested 0.01% in The Hartford Financial Services Group, Inc. (NYSE:HIG). First Republic Investment holds 22,622 shares. Moreover, York Cap Mgmt Advsr Ltd has 2.92% invested in The Hartford Financial Services Group, Inc. (NYSE:HIG). Calamos Advsr Llc invested 0.02% in The Hartford Financial Services Group, Inc. (NYSE:HIG).

Since March 5, 2018, it had 0 insider buys, and 12 insider sales for $9.74 million activity. On Tuesday, May 1 the insider Bombara Beth Ann sold $1.28 million. Lewis Scott R. had sold 2,319 shares worth $124,925. 682 shares valued at $37,469 were sold by Robinson David C on Monday, April 30. $4.48 million worth of The Hartford Financial Services Group, Inc. (NYSE:HIG) shares were sold by ELLIOT DOUGLAS G. On Friday, March 9 Gervasi Martha sold $618,585 worth of The Hartford Financial Services Group, Inc. (NYSE:HIG) or 11,247 shares.

Corecommodity Management Llc, which manages about $5.19 billion and $132.43 million US Long portfolio, upped its stake in Murphy Oil Corp (NYSE:MUR) by 56,896 shares to 58,340 shares, valued at $1.51 million in 2018Q1, according to the filing. It also increased its holding in Deere & Co (NYSE:DE) by 8,721 shares in the quarter, for a total of 13,631 shares, and has risen its stake in Barrick Gold Corp (NYSE:ABX).

Among 7 analysts covering POSCO (NYSE:PKX), 4 have Buy rating, 2 Sell and 1 Hold. Therefore 57% are positive. POSCO had 9 analyst reports since August 31, 2015 according to SRatingsIntel. The rating was downgraded by Zacks on Monday, August 31 to “Hold”. The company was downgraded on Thursday, September 3 by Macquarie Research. The firm earned “Reduce” rating on Friday, April 15 by HSBC. The rating was upgraded by JP Morgan to “Overweight” on Tuesday, April 5. The firm earned “Sell” rating on Monday, May 9 by CLSA. Standpoint Research downgraded the shares of PKX in report on Monday, August 7 to “Hold” rating. Nomura upgraded the stock to “Buy” rating in Thursday, January 26 report. The stock of POSCO (NYSE:PKX) has “Buy” rating given on Tuesday, January 2 by Goldman Sachs. On Thursday, July 21 the stock rating was upgraded by Macquarie Research to “Outperform”.

More important recent POSCO (NYSE:PKX) news were published by: Seekingalpha.com which released: “Will Posco Substitute For LG Chem In A New Offtake Agreement With Pilbara Minerals?” on May 30, 2018, also Globenewswire.com published article titled: “Analysis: Positioning to Benefit within Kinross Gold, New York Mortgage Trust, POSCO, NXP Semiconductors NV …”, Seekingalpha.com published: “Korea Steel: Bright 2H18 Prospects Justify Re-Rating” on June 16, 2018. More interesting news about POSCO (NYSE:PKX) was released by: Investorplace.com and their article: “20 Stocks With Renewed Bull Cases After Trump-Kim Summit” with publication date: June 13, 2018.

The Hartford Financial Services Group, Inc. (NYSE:HIG) Institutional Positions Chart

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