Mitsubishi UFJ Asset Management Co. Ltd. Acquires 11,915 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,616 shares of the insurance provider's stock after acquiring an additional 11,915 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of The Hartford Financial Services Group worth $25,281,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. GoalVest Advisory LLC lifted its stake in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider's stock worth $25,000 after buying an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter worth about $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth about $27,000. Chilton Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth about $28,000. Finally, Selway Asset Management acquired a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG traded up $1.00 during midday trading on Friday, hitting $103.17. The company's stock had a trading volume of 3,356,047 shares, compared to its average volume of 1,777,111. The business's 50 day simple moving average is $99.69 and its 200 day simple moving average is $88.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $30.51 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The Hartford Financial Services Group, Inc. has a 12-month low of $67.42 and a 12-month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion during the quarter, compared to analysts' expectations of $6.51 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 10.01 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 21.36%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the sale, the executive vice president now directly owns 46,792 shares in the company, valued at $4,397,044.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares in the company, valued at $4,397,044.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the transaction, the executive vice president now owns 25,643 shares of the company's stock, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. Insiders have sold 180,580 shares of company stock valued at $17,711,492 over the last ninety days. Company insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HIG. Piper Sandler reissued an "overweight" rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. UBS Group boosted their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a "buy" rating in a report on Monday, February 5th. Argus lifted their target price on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, April 10th. Finally, Evercore ISI upped their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $105.88.

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.