Mitsubishi UFJ Asset Management Co. Ltd. Has $50.99 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.16% of The Hartford Financial Services Group worth $50,993,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HIG. AustralianSuper Pty Ltd lifted its position in shares of The Hartford Financial Services Group by 265.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after buying an additional 881,224 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after purchasing an additional 709,324 shares during the period. Proficio Capital Partners LLC boosted its stake in The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock valued at $632,000 after buying an additional 626,304 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $65,256,000. Finally, Nordea Investment Management AB boosted 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 buying an additional 581,103 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Remove Ads

The Hartford Financial Services Group Stock Performance

HIG stock traded up $1.51 during midday trading on Monday, hitting $123.73. The stock had a trading volume of 2,137,172 shares, compared to its average volume of 1,578,410. 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 stock has a 50-day simple moving average of $115.52 and a 200 day simple moving average of $115.27. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The firm has a market capitalization of $35.31 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given 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 1.68%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HIG shares. StockNews.com lowered The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods upped their price objective 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. Raymond James lifted their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an "overweight" rating in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $123.78.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction dated 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. 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.

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.