The Hartford Financial Services Group (NYSE:HIG) Sets New 52-Week High at $101.49

The Hartford Financial Services Group, Inc. (NYSE:HIG) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $101.49 and last traded at $101.49, with a volume of 923572 shares. The stock had previously closed at $100.67.

Analyst Upgrades and Downgrades

HIG has been the subject of several research reports. Piper Sandler lifted their target price on The Hartford Financial Services Group from $97.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada increased their target price on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, February 5th. Raymond James upped their price objective on The Hartford Financial Services Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. UBS Group upped their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. cut The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $94.00 to $91.00 in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.06.

The Hartford Financial Services Group Stock Performance

The stock has a market cap of $30.64 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88. The stock has a fifty day moving average of $93.56 and a 200-day moving average of $82.06. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 4th will be given a $0.47 dividend. The ex-dividend date is Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.82%. The Hartford Financial Services Group’s payout ratio is currently 23.53%.

Insiders Place Their Bets

In related news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Christopher Swift sold 3,337 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $83.00, for a total transaction of $276,971.00. Following the sale, the chief executive officer now owns 170,180 shares of the company’s stock, valued at approximately $14,124,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,342 shares of company stock worth $23,256,523. Company insiders own 1.80% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of The Hartford Financial Services Group by 4.8% in the second quarter. BlackRock Inc. now owns 25,923,428 shares of the insurance provider’s stock valued at $1,867,005,000 after purchasing an additional 1,183,946 shares during the last quarter. Invesco Ltd. grew its holdings in The Hartford Financial Services Group by 1.3% during the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock valued at $526,242,000 after buying an additional 91,911 shares during the last quarter. Geode Capital Management LLC increased its position in The Hartford Financial Services Group by 1.2% during the first quarter. Geode Capital Management LLC now owns 6,532,858 shares of the insurance provider’s stock worth $454,234,000 after buying an additional 74,997 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after acquiring an additional 1,272,290 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of The Hartford Financial Services Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,612,529 shares of the insurance provider’s stock valued at $403,036,000 after acquiring an additional 307,231 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services 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.