The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $129.75 and last traded at $127.95, with a volume of 1955289 shares changing hands. The stock had previously closed at $128.64.
Wall Street Analyst Weigh In
A number of analysts recently commented on HIG shares. UBS Group increased their price objective on 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. Raymond James raised their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. JPMorgan Chase & Co. raised their target price on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, StockNews.com lowered The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Monday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of "Moderate Buy" and an average price target of $126.87.
Read Our Latest Stock Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Stock Down 0.5%
The firm has a 50 day simple moving average of $119.98 and a two-hundred day simple moving average of $115.94. 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 stock has a market cap of $36.35 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.12 and a beta of 0.70.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business earned $2.34 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.
The Hartford Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio is presently 20.74%.
Insider Transactions at The Hartford Financial Services Group
In related news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,429 shares of company stock valued at $13,618,028. Corporate insiders own 1.50% of the company's stock.
Hedge Funds Weigh In On The Hartford Financial Services Group
A number of hedge funds have recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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 worth $26,000 after acquiring an additional 234 shares during the last quarter. Barrett & Company Inc. grew its holdings in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock worth $32,000 after acquiring an additional 93 shares during the last quarter. Park Square Financial Group LLC grew its holdings in shares of The Hartford Financial Services Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Financial Services Group in the 4th quarter worth $33,000. Finally, Center for Financial Planning Inc. acquired a new position in shares of The Hartford Financial Services Group in the 1st quarter worth $33,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.
The Hartford Financial Services Group Company Profile
(
Get Free Report)
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.
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