Machina Capital S.A.S. Buys New Holdings in The Hartford Insurance Group, Inc. $HIG

Machina Capital S.A.S. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 43,431 shares of the insurance provider’s stock, valued at approximately $5,314,000. The Hartford Insurance Group comprises 0.7% of Machina Capital S.A.S.’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds also recently made changes to their positions in HIG. Silver Grove Financial Group Inc. grew its holdings in The Hartford Insurance Group by 83.9% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 228 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 104 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of The Hartford Insurance Group by 9.5% during the third quarter. Illinois Municipal Retirement Fund now owns 191,455 shares of the insurance provider’s stock valued at $23,426,000 after acquiring an additional 16,542 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of The Hartford Insurance Group by 12.9% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 67,749 shares of the insurance provider’s stock valued at $8,290,000 after acquiring an additional 7,762 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its stake in shares of The Hartford Insurance Group by 4.1% during the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 53,959 shares of the insurance provider’s stock valued at $6,633,000 after acquiring an additional 2,119 shares during the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of The Hartford Insurance Group by 23.2% during the third quarter. Lido Advisors LLC now owns 11,904 shares of the insurance provider’s stock worth $1,457,000 after purchasing an additional 2,241 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Down 0.5%

Shares of The Hartford Insurance Group stock opened at $137.13 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $120.42 and a 12-month high of $146.07. The company has a market cap of $36.67 billion, a P/E ratio of 8.30, a PEG ratio of 1.94 and a beta of 0.48. The company’s fifty day simple moving average is $132.67 and its two-hundred day simple moving average is $135.60.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 26th. The insurance provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.17 by $0.33. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The firm had revenue of $7.22 billion during the quarter, compared to analysts’ expectations of $7.37 billion. During the same period last year, the company posted $3.78 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.34 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 1st will be given a dividend of $0.67 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, December 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.22%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HIG. UBS Group cut their target price on The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Wells Fargo & Company downgraded The Hartford Insurance Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $158.00 to $139.00 in a report on Wednesday. Mizuho lowered their price target on The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Piper Sandler cut The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $148.00 to $146.00 in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.50.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Costello sold 31,597 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $135.75, for a total value of $4,289,292.75. Following the completion of the transaction, the chief financial officer directly owned 82,988 shares of the company’s stock, valued at $11,265,621. This represents a 27.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc., known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals. Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.