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

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 563,753 shares of the insurance provider’s stock after acquiring an additional 19,960 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in The Hartford Insurance Group were worth $75,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth about $27,000. Vermillion & White Wealth Management Group LLC grew its position in The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after buying an additional 99 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in The Hartford Insurance Group in the second quarter valued at about $35,000. Finally, Addison Advisors LLC lifted its position in shares of The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $140.69 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $107.49 and a 12-month high of $144.50. The firm has a market cap of $38.81 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.61. The company’s 50-day moving average is $137.11 and its two-hundred day moving average is $133.42. The company has a current ratio of 0.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.94 earnings per share. Research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 5,681 shares of The Hartford Insurance Group stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 343,928 shares of company stock worth $47,393,256 over the last quarter. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Citigroup upped their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Piper Sandler raised their price target on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Evercore boosted their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.13.

About The Hartford Insurance Group

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.