Mitsubishi UFJ Asset Management Co. Ltd. Has $80.53 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Mitsubishi UFJ Asset Management increased its stake in The Hartford by 4.2% to 587,364 shares, worth about $80.53 million, representing roughly 0.21% of the company.
• EVP Lori A. Rodden sold 40,693 shares on March 10 for about $5.62 million, cutting her holding by 61.58%; institutions own about 93.42% of the stock while insiders own 1.30%.
• The Hartford reported Q1 EPS of $3.09, missing estimates (~$3.39) despite revenue of $14.45 billion, and analysts have an average rating of "Moderate Buy" with an average price target of $149.31 and an annualized dividend yield around 1.8%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 587,364 shares of the insurance provider's stock after purchasing an additional 23,611 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of The Hartford Insurance Group worth $80,533,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter worth about $26,000. Cornerstone Planning Group LLC increased its position in 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 worth $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the 3rd quarter worth about $29,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC increased its position in The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock worth $35,000 after purchasing an additional 152 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

The Hartford Insurance Group Stock Performance

HIG opened at $132.66 on Friday. The company has a market cap of $36.37 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 2.38 and a beta of 0.50. The stock has a 50-day moving average of $136.85 and a 200-day moving average of $135.14. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The Hartford Insurance Group's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is presently 16.87%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Mizuho upped their price target on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, February 13th. UBS Group decreased their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Finally, Morgan Stanley upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $149.31.

The Hartford Insurance Group Profile

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.

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