Mitsubishi UFJ Asset Management Co. Ltd. Has $68.99 Million Position in The Hartford Insurance Group, Inc. $HIG

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 543,793 shares of the insurance provider’s stock after acquiring an additional 16,926 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in The Hartford Insurance Group were worth $68,991,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $233,000. Aurora Investment Counsel acquired a new position in shares of The Hartford Insurance Group in the first quarter valued at $2,434,000. Atlas Capital Advisors Inc. boosted its position in shares of The Hartford Insurance Group by 95.1% during the 1st quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after acquiring an additional 3,140 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $506,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of The Hartford Insurance Group by 93.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,614 shares of the insurance provider’s stock valued at $695,000 after purchasing an additional 2,707 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

HIG has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Morgan Stanley increased their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $140.14.

The Hartford Insurance Group Trading Up 1.1%

NYSE HIG opened at $129.29 on Monday. The stock’s 50-day moving average is $129.49 and its 200-day moving average is $127.62. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The firm has a market cap of $36.03 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

The Hartford Insurance 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.