Saiph Capital LLC Invests $647,000 in The Hartford Insurance Group, Inc. $HIG

Saiph Capital LLC bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,096 shares of the insurance provider’s stock, valued at approximately $647,000.

Several other hedge funds also recently modified their holdings of HIG. Atlas Capital Advisors Inc. grew its holdings in 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 worth $797,000 after acquiring an additional 3,140 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of The Hartford Insurance Group by 61.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock worth $15,727,000 after purchasing an additional 47,919 shares during the last quarter. Capital Fund Management S.A. grew its stake in The Hartford Insurance Group by 94.9% in the second quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock worth $17,805,000 after purchasing an additional 68,351 shares in the last quarter. New York State Common Retirement Fund increased its holdings in The Hartford Insurance Group by 12.0% in the second quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock valued at $26,546,000 after buying an additional 22,500 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in The Hartford Insurance Group by 7.9% during the first quarter. Geneos Wealth Management Inc. now owns 6,001 shares of the insurance provider’s stock valued at $743,000 after buying an additional 441 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 1.0%

The Hartford Insurance Group stock opened at $131.74 on Friday. The company’s 50-day moving average price is $130.49 and its two-hundred day moving average price is $128.78. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.24 and a beta of 0.63. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $138.64.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the company posted $2.53 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the company’s 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HIG. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Piper Sandler lifted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $143.29.

The Hartford Insurance Group 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.