State of Michigan Retirement System Has $10.76 Million Stake in The Hartford Insurance Group, Inc. $HIG

State of Michigan Retirement System increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 84,841 shares of the insurance provider’s stock after acquiring 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 filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Private Wealth Management Group LLC grew its holdings in The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 133 shares during the last quarter. Park Square Financial Group LLC grew its holdings in The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after buying an additional 161 shares during the last quarter. Signature Resources Capital Management LLC acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $38,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in The Hartford Insurance Group in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $124.31 on Tuesday. The stock has a 50 day moving average of $129.84 and a two-hundred day moving average of $127.32. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The company has a market capitalization of $34.64 billion, a P/E ratio of 10.16, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $2.53 EPS. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a dividend of $0.60 per share. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HIG. Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price on the stock. Morgan Stanley raised 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 report on Tuesday, October 7th. Finally, Wells Fargo & Company reduced their price objective on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.57.

Insider Activity at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their position. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by company insiders.

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.