The Hartford Financial Services Group, Inc. (NYSE:HIG) Position Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and 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.’s holdings in The Hartford Financial Services Group were worth $50,993,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HIG. Victory Capital Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after acquiring an additional 202,487 shares during the period. Nordea Investment Management AB grew its holdings in The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after acquiring an additional 581,103 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of The Hartford Financial Services Group by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock worth $209,382,000 after purchasing an additional 39,585 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in The Hartford Financial Services Group by 8.5% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock worth $159,412,000 after purchasing an additional 114,716 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of The Hartford Financial Services Group by 2.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock valued at $135,052,000 after acquiring an additional 34,938 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $122.21 on Friday. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91. The stock’s 50 day moving average is $115.52 and its 200-day moving average is $115.27. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) 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%. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analyst Ratings Changes

Several brokerages recently issued reports on HIG. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Piper Sandler increased their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company 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 company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $122.94.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

About The Hartford Financial Services Group

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.