Mitsubishi UFJ Trust & Banking Corp Reduces Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,547 shares of the insurance provider's stock after selling 12,483 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of The Hartford Financial Services Group worth $36,162,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HIG. Victory Capital Management Inc. grew its position in 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 purchasing an additional 202,487 shares during the period. Nordea Investment Management AB boosted its stake in shares of The Hartford Financial Services Group by 17.3% in the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of The Hartford Financial Services Group by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider's stock worth $209,382,000 after acquiring an additional 39,585 shares during the period. Bahl & Gaynor Inc. increased its position in The Hartford Financial Services Group by 8.5% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider's stock valued at $159,412,000 after acquiring an additional 114,716 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in The Hartford Financial Services Group by 2.9% in 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. 93.42% of the stock is currently owned by institutional investors.

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The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock traded up $1.51 on Monday, hitting $123.73. 2,137,172 shares of the company traded hands, compared to its average volume of 1,578,410. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The business has a 50-day simple moving average of $115.75 and a 200 day simple moving average of $115.33. 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 stock has a market capitalization of $35.31 billion, a P/E ratio of 11.95, a price-to-earnings-growth 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 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%. Research analysts expect 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 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group's payout ratio is presently 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the company's stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of 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. Piper Sandler boosted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, StockNews.com cut The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Ten investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.78.

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.