The Hartford Financial Services Group, Inc. (NYSE:HIG) Sees Significant Growth in Short Interest

The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,490,000 shares, an increase of 20.3% from the April 30th total of 2,900,000 shares. Based on an average daily trading volume, of 1,710,000 shares, the short-interest ratio is presently 2.0 days. Approximately 1.2% of the shares of the stock are short sold.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock traded up $0.14 during midday trading on Thursday, hitting $128.08. 269,418 shares of the company's stock were exchanged, compared to its average volume of 1,577,045. The Hartford Financial Services Group has a 12-month low of $98.16 and a 12-month high of $132.09. The stock has a market cap of $36.39 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The firm's 50 day simple moving average is $123.21 and its 200 day simple moving average is $117.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the business posted $2.34 EPS. The company's revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.62%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.74%.

Insider Buying and Selling

In other news, CEO Christopher Swift sold 98,061 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $25,412,161.98. This represents a 31.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,429 shares of company stock worth $13,618,028. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Modern Wealth Management LLC acquired a new stake in The Hartford Financial Services Group in the first quarter valued at $854,000. Strs Ohio acquired a new position in The Hartford Financial Services Group in the 1st quarter valued at about $8,879,000. Intrua Financial LLC purchased a new position in The Hartford Financial Services Group in the 1st quarter valued at about $214,000. Advisors Capital Management LLC boosted its stake in shares of The Hartford Financial Services Group by 1.9% during the 1st quarter. Advisors Capital Management LLC now owns 7,474 shares of the insurance provider's stock worth $925,000 after purchasing an additional 141 shares during the last quarter. Finally, WBI Investments LLC purchased a new stake in shares of The Hartford Financial Services Group during the first quarter worth about $2,704,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays lifted their target price on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Jefferies Financial Group decreased their price target on The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating for the company in a report on Friday, April 11th. Raymond James increased their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Morgan Stanley boosted their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, UBS Group increased their price target on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of "Moderate Buy" and a consensus price target of $129.71.

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.