Dimensional Fund Advisors LP Purchases 72,448 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Dimensional Fund Advisors LP increased its stake in The Hartford Insurance Group by 1.6% in the first quarter, adding 72,448 shares to bring its total holding to 4.7 million shares worth about $635.5 million.
• The Hartford reported mixed quarterly results, with EPS of $3.09 missing estimates of $3.39 and revenue of $7.23 billion below forecasts, though revenue still rose 6.1% year over year.
• The company announced a quarterly dividend of $0.60 per share, equal to an annualized yield of 1.7%, while analysts currently rate the stock a consensus “Hold” with an average price target of $148.38.

Dimensional Fund Advisors LP lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,699,459 shares of the insurance provider's stock after acquiring an additional 72,448 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.71% of The Hartford Insurance Group worth $635,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter worth about $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC boosted its position in The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock worth $35,000 after buying an additional 152 shares during the period. Finally, Sound Income Strategies LLC boosted its position in The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock worth $36,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 0.0%

Shares of HIG stock opened at $140.26 on Monday. The company has a market cap of $38.45 billion, a P/E ratio of 9.86, a PEG ratio of 3.81 and a beta of 0.47. The stock has a 50 day simple moving average of $133.04 and a two-hundred day simple moving average of $135.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The Hartford Insurance Group's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 earnings per share. Research analysts forecast that The Hartford Insurance Group, Inc. will post 12.74 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is currently 16.87%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HIG. Bank of America upped their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. Barclays decreased their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. UBS Group reduced their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Finally, Mizuho increased their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of "Hold" and a consensus price target of $148.38.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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