Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 682,682 shares of the insurance provider's stock, valued at approximately $90,469,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of The Hartford Insurance Group as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in HIG. Haven Private LLC increased its stake in shares of The Hartford Insurance Group by 1.1% during the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock valued at $930,000 after buying an additional 71 shares during the period. GW&K Investment Management LLC raised its holdings in shares of The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 77 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock worth $2,432,000 after acquiring an additional 79 shares during the period. Koshinski Asset Management Inc. lifted its stake in The Hartford Insurance Group by 3.8% in the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock worth $305,000 after acquiring an additional 82 shares during the period. Finally, Castlekeep Investment Advisors LLC grew its holdings in The Hartford Insurance Group by 0.7% during the 4th quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider's stock worth $1,810,000 after acquiring an additional 86 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
The Hartford Insurance Group Price Performance
HIG opened at $138.89 on Wednesday. The firm has a market capitalization of $37.62 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 3.39 and a beta of 0.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The business's 50-day moving average is $137.08 and its two-hundred day moving average is $136.59. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm posted $3.41 earnings per share. The company's quarterly revenue was up 8.1% on a year-over-year basis. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's payout ratio is 15.51%.
Analyst Upgrades and Downgrades
HIG has been the topic of a number of research reports. Zacks Research downgraded shares of The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 28th. Cantor Fitzgerald increased their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Finally, Piper Sandler reissued a "neutral" rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $149.67.
Check Out Our Latest Report on The Hartford Insurance Group
Insider Buying and Selling
In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.
The Hartford Insurance Group Profile
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Free Report)
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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