Brandywine Global Investment Management LLC Has $37.55 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Brandywine Global Investment Management LLC increased its stake in The Hartford Insurance Group by 74.8% during Q1, acquiring an additional 129,826 shares to own a total of 303,499 shares, valued at approximately $37.55 million.
• The Hartford Insurance Group recently reported an earnings per share (EPS) of $3.41, significantly exceeding analysts' expectations of $2.83, alongside a revenue of $6.99 billion for the quarter.
• The company announced a quarterly dividend of $0.52, set to be paid on October 2nd, which translates to an annualized yield of 1.6% and a payout ratio of 18.86%.

Brandywine Global Investment Management LLC raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 74.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 303,499 shares of the insurance provider's stock after acquiring an additional 129,826 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.11% of The Hartford Insurance Group worth $37,552,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC raised its position in The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group during the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group in the first quarter valued at $33,000. Itau Unibanco Holding S.A. acquired a new position in The Hartford Insurance Group during the fourth quarter worth $35,000. Finally, 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 acquiring an additional 161 shares during the period. 93.42% of the stock is owned by institutional investors.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HIG. Barclays decreased their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Morgan Stanley raised their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group has an average rating of "Moderate Buy" and an average price target of $137.64.

The Hartford Insurance Group Stock Up 1.5%

Shares of NYSE:HIG traded up $1.9160 during trading on Tuesday, hitting $131.6760. 1,070,703 shares of the company's stock traded hands, compared to its average volume of 1,647,751. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $125.00 and a 200-day moving average price of $122.00. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $132.09. The company has a market cap of $37.02 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $2.50 earnings per share. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's payout ratio is 18.86%.

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.