The Hartford Financial Services Group (NYSE:HIG) Reaches New 1-Year High at $71.28

The Hartford Financial Services Group, Inc. (NYSE:HIG)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $71.28 and last traded at $70.85, with a volume of 3248 shares changing hands. The stock had previously closed at $70.55.

Several research analysts recently weighed in on the company. Credit Suisse Group increased their price objective on The Hartford Financial Services Group from $82.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, September 9th. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $75.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America upgraded The Hartford Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $76.00 in a research report on Friday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on The Hartford Financial Services Group from $60.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 12th. Finally, Wolfe Research assumed coverage on The Hartford Financial Services Group in a research report on Monday, August 16th. They issued a “peer perform” rating and a $74.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $72.79.

The firm has a 50-day moving average price of $65.88 and a 200 day moving average price of $64.64. The firm has a market capitalization of $24.57 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Wednesday, July 28th. The insurance provider reported $2.33 EPS for the quarter, topping the consensus estimate of $1.34 by $0.99. The Hartford Financial Services Group had a return on equity of 12.47% and a net margin of 10.05%. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.40 billion. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 5.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 4th. Stockholders of record on Wednesday, September 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, August 31st. The Hartford Financial Services Group’s payout ratio is currently 24.22%.

In other news, EVP David C. Robinson sold 5,469 shares of the stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $65.00, for a total value of $355,485.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan R. Bennett sold 22,406 shares of the stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $70.00, for a total value of $1,568,420.00. Following the completion of the sale, the executive vice president now owns 48,047 shares in the company, valued at $3,363,290. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,875 shares of company stock worth $3,524,395. Insiders own 1.55% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in The Hartford Financial Services Group by 41.0% in the second quarter. Bank of America Corp DE now owns 3,710,372 shares of the insurance provider’s stock valued at $229,931,000 after buying an additional 1,078,151 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in The Hartford Financial Services Group by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,421,534 shares of the insurance provider’s stock valued at $88,092,000 after buying an additional 51,911 shares in the last quarter. Mariner LLC increased its position in shares of The Hartford Financial Services Group by 5.5% during the second quarter. Mariner LLC now owns 13,774 shares of the insurance provider’s stock worth $854,000 after purchasing an additional 714 shares in the last quarter. Snow Capital Management LP increased its position in shares of The Hartford Financial Services Group by 6.6% during the second quarter. Snow Capital Management LP now owns 305,435 shares of the insurance provider’s stock worth $18,928,000 after purchasing an additional 19,031 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of The Hartford Financial Services Group by 89.0% during the second quarter. Morgan Stanley now owns 1,458,772 shares of the insurance provider’s stock worth $90,401,000 after purchasing an additional 687,072 shares in the last quarter. Institutional investors own 91.07% of the company’s stock.

About The Hartford Financial Services Group (NYSE:HIG)

The Hartford Financial Services Group, Inc is an insurance and financial services company. The company provides life insurance, group and employee benefits, automobile and homeowners insurance and business insurance, as well as investment products, annuities, mutual funds, and college savings plans. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits and Hartford Funds.

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