The Hartford Financial Services Group (NYSE:HIG) Sets New 12-Month High - Here's Why

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $125.23 and last traded at $125.21, with a volume of 638989 shares trading hands. The stock had previously closed at $121.84.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. UBS Group boosted their price objective on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Jefferies Financial Group reduced their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $126.87.

The Hartford Financial Services Group Price Performance

The stock has a market cap of $36.76 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The business's 50-day simple moving average is $119.16 and its two-hundred day simple moving average is $115.70. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 EPS. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a $0.52 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.61%. The Hartford Financial Services Group's payout ratio is 20.74%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at $74,279.24. This represents a 63.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,429 shares of company stock worth $13,618,028. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds have recently added to or reduced their stakes in HIG. Thurston Springer Miller Herd & Titak Inc. grew its holdings in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. boosted its position in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. Park Square Financial Group LLC boosted its holdings in The Hartford Financial Services 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 stake in The Hartford Financial Services Group in the fourth quarter valued at about $33,000. Finally, Center for Financial Planning Inc. acquired a new stake in The Hartford Financial Services Group in the first quarter worth about $33,000. 93.42% of the stock is currently owned by 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.