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

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,481 shares of the insurance provider’s stock after buying an additional 57,865 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.12% of The Hartford Financial Services Group worth $37,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HIG. Foundry Partners LLC boosted its stake in The Hartford Financial Services Group by 3.3% in the first quarter. Foundry Partners LLC now owns 236,399 shares of the insurance provider’s stock valued at $24,361,000 after acquiring an additional 7,494 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of The Hartford Financial Services Group by 6.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 421,431 shares of the insurance provider’s stock valued at $43,428,000 after buying an additional 24,326 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of The Hartford Financial Services Group during the first quarter worth about $249,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of The Hartford Financial Services Group by 72.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after buying an additional 559,019 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its position in The Hartford Financial Services Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock valued at $468,000 after acquiring an additional 122 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The disclosure for this sale can be found here. Insiders sold a total of 94,499 shares of company stock valued at $9,449,309 over the last three months. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded down $3.00 during trading hours on Friday, hitting $102.06. The stock had a trading volume of 637,103 shares, compared to its average volume of 1,662,239. The Hartford Financial Services Group, Inc. has a 1-year low of $68.82 and a 1-year high of $106.93. The stock has a market capitalization of $30.19 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.87 and a beta of 0.93. The stock’s fifty day moving average is $101.36 and its two-hundred day moving average is $96.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 9.83 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $105.00 target price on shares of The Hartford Financial Services Group in a research note on Friday, June 28th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Argus upped their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Wells Fargo & Company lowered their target price on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Citigroup cut shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $116.00 to $114.00 in a report on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.50.

The Hartford Financial Services 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.