Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,691 shares of the insurance provider’s stock after acquiring an additional 34,255 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of The Hartford Financial Services Group worth $50,993,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HIG. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in The Hartford Financial Services Group by 3,342.9% during the fourth 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 in the last quarter. Barrett & Company Inc. increased its stake in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the last quarter. BNP Paribas purchased a new position in The Hartford Financial Services Group during the third quarter worth about $35,000. DT Investment Partners LLC lifted its holdings in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $36,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $122.21 on Friday. The stock has a market cap of $34.88 billion, a PE ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The stock has a fifty day moving average price of $115.52 and a 200 day moving average price of $115.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping 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%. Sell-side analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Insider Activity

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of the firm’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 transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Piper Sandler lifted 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. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price target on shares of 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. Finally, StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.94.

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.