The Hartford Financial Services Group (NYSE:HIG) Sets New 1-Year High at $101.49

The Hartford Financial Services Group, Inc. (NYSE:HIG)’s stock price 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 traded. The stock had previously closed at $100.67.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HIG. UBS Group lifted their target price on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Monday, February 5th. TD Cowen started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, January 10th. They set an “outperform” rating on the stock. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $97.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Raymond James boosted their price target on shares of The Hartford Financial Services Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Roth Mkm raised their price objective on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.06.

The Hartford Financial Services Group Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $30.64 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88. The stock has a 50-day moving average price of $93.56 and a 200 day moving average price of $82.06.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the business earned $2.31 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business 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 annualized dividend and a yield of 1.82%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 3,337 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $83.00, for a total transaction of $276,971.00. Following the completion of the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at $14,124,940. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now directly owns 630 shares of the company’s stock, valued at $56,536.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $276,971.00. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,124,940. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,342 shares of company stock valued at $23,256,523. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $277,618,000. Moneta Group Investment Advisors LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at $215,742,000. Hotchkis & Wiley Capital Management LLC raised its stake in The Hartford Financial Services Group by 26.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after acquiring an additional 1,272,290 shares during the period. BlackRock Inc. lifted its holdings in The Hartford Financial Services Group by 4.8% during the 2nd 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. Finally, Victory Capital Management Inc. boosted its position in The Hartford Financial Services Group by 26.7% during the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock worth $364,631,000 after purchasing an additional 1,083,420 shares during the period. 93.42% of the stock is owned by institutional investors.

About The Hartford Financial Services Group

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.