Hartford Financial Services Group (NYSE:HIG) Sets New 52-Week High at $62.07

Hartford Financial Services Group Inc (NYSE:HIG)’s stock price reached a new 52-week high on Friday . The company traded as high as $62.07 and last traded at $61.93, with a volume of 287444 shares trading hands. The stock had previously closed at $61.62.

A number of research firms have recently weighed in on HIG. Barclays set a $70.00 price objective on Hartford Financial Services Group and gave the company a “buy” rating in a research note on Monday, August 12th. Buckingham Research increased their price objective on Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Evercore ISI raised Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price target on Hartford Financial Services Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, MKM Partners raised their price target on Hartford Financial Services Group to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Hartford Financial Services Group presently has a consensus rating of “Buy” and an average target price of $63.92.

The business has a 50 day moving average of $59.00 and a 200 day moving average of $57.02. The company has a market cap of $22.22 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.29 and a quick ratio of 0.29.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.26. The company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.22 billion. Hartford Financial Services Group had a return on equity of 12.69% and a net margin of 8.66%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. Sell-side analysts forecast that Hartford Financial Services Group Inc will post 5.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.94%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

In other Hartford Financial Services Group news, CFO Beth Ann Costello sold 5,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $57.70, for a total value of $288,500.00. Following the completion of the transaction, the chief financial officer now owns 46,245 shares in the company, valued at $2,668,336.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David C. Robinson sold 6,978 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $60.04, for a total value of $418,959.12. Following the completion of the transaction, the executive vice president now owns 22,040 shares of the company’s stock, valued at approximately $1,323,281.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,665 shares of company stock valued at $3,507,405. 1.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HIG. Corient Capital Partners LLC lifted its position in shares of Hartford Financial Services Group by 4.0% during the 3rd quarter. Corient Capital Partners LLC now owns 4,283 shares of the insurance provider’s stock valued at $260,000 after buying an additional 166 shares in the last quarter. Milestone Group Inc. increased its stake in Hartford Financial Services Group by 0.7% in the 2nd quarter. Milestone Group Inc. now owns 26,353 shares of the insurance provider’s stock worth $1,468,000 after acquiring an additional 176 shares during the last quarter. Boston Advisors LLC increased its stake in Hartford Financial Services Group by 1.9% in the 3rd quarter. Boston Advisors LLC now owns 10,865 shares of the insurance provider’s stock worth $659,000 after acquiring an additional 205 shares during the last quarter. Covington Capital Management increased its stake in Hartford Financial Services Group by 17.2% in the 2nd quarter. Covington Capital Management now owns 1,518 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 223 shares during the last quarter. Finally, Moors & Cabot Inc. increased its stake in Hartford Financial Services Group by 1.6% in the 2nd quarter. Moors & Cabot Inc. now owns 14,247 shares of the insurance provider’s stock worth $798,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.

Hartford Financial Services Group Company Profile (NYSE:HIG)

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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