The Hartford Insurance Group, Inc. $HIG Holdings Raised by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,841 shares of the insurance provider’s stock after purchasing an additional 2,800 shares during the period. State of Michigan Retirement System’s holdings in The Hartford Insurance Group were worth $10,764,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Private Wealth Management Group LLC lifted its holdings in shares of The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the last quarter. Park Square Financial Group LLC lifted its holdings in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 161 shares during the last quarter. Signature Resources Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group during the second quarter valued at $38,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in The Hartford Insurance Group in the 1st quarter worth about $43,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $124.31 on Tuesday. 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 Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The stock’s 50-day moving average is $129.84 and its two-hundred day moving average is $127.32. The firm has a market cap of $34.64 billion, a P/E ratio of 10.16, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm posted $2.53 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. Analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is currently 19.61%.

Analysts Set New Price Targets

HIG has been the subject of several research analyst reports. Evercore ISI increased their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Morgan Stanley increased their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wolfe Research initiated coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods increased their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group has an average rating of “Moderate Buy” and an average target price of $139.57.

Insider Activity

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

About The Hartford Insurance Group

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.