Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in The Hartford Insurance Group, Inc. $HIG

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 543,793 shares of the insurance provider’s stock after buying an additional 16,926 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of The Hartford Insurance Group worth $68,991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIG. Private Wealth Management Group LLC grew its holdings in shares of The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares during the period. Meeder Asset Management Inc. boosted its position in The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 161 shares during the period. Signature Resources Capital Management LLC acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at $38,000. Larson Financial Group LLC raised its position in The Hartford Insurance Group by 274.5% in the first quarter. Larson Financial Group LLC now owns 352 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of The Hartford Insurance Group by 29.4% in the second quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock worth $51,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Up 1.1%

HIG stock opened at $129.29 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $129.49 and its 200 day simple moving average is $127.62. The stock has a market cap of $36.03 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on HIG shares. UBS Group increased their price objective on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

The Hartford Insurance 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.