Hartford Financial Services Group (HIG) Reaches New 1-Year High at $54.03

Shares of Hartford Financial Services Group Inc (NYSE:HIG) reached a new 52-week high on Friday . The stock traded as high as $54.03 and last traded at $54.03, with a volume of 78778 shares changing hands. The stock had previously closed at $53.60.

A number of analysts have recently commented on HIG shares. TheStreet upgraded shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a report on Thursday, March 14th. Zacks Investment Research upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, May 7th. ValuEngine upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wells Fargo & Co restated a “hold” rating and set a $56.00 target price on shares of Hartford Financial Services Group in a report on Thursday, May 2nd. Finally, Barclays boosted their target price on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Hartford Financial Services Group presently has a consensus rating of “Buy” and a consensus target price of $57.25.

The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $19.14 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.09 and a beta of 0.73.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.15. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.84 billion. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. Hartford Financial Services Group’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 EPS. As a group, equities analysts forecast that Hartford Financial Services Group Inc will post 5.12 earnings per share for the current year.

Hartford Financial Services Group declared that its board has initiated a stock repurchase program on Monday, February 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other news, insider Martha Gervasi sold 5,039 shares of Hartford Financial Services Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $52.87, for a total value of $266,411.93. Following the completion of the transaction, the insider now owns 15,210 shares of the company’s stock, valued at approximately $804,152.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert W. Paiano sold 5,000 shares of Hartford Financial Services Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the executive vice president now directly owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Louisiana State Employees Retirement System raised its position in Hartford Financial Services Group by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the insurance provider’s stock worth $945,000 after buying an additional 200 shares during the last quarter. Advantage Investment Management LLC raised its position in Hartford Financial Services Group by 66.7% in the 1st quarter. Advantage Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Hartford Financial Services Group by 11.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,140 shares of the insurance provider’s stock worth $95,000 after buying an additional 224 shares during the last quarter. Blair William & Co. IL raised its position in Hartford Financial Services Group by 3.4% in the 1st quarter. Blair William & Co. IL now owns 7,248 shares of the insurance provider’s stock worth $360,000 after buying an additional 239 shares during the last quarter. Finally, M&T Bank Corp raised its position in Hartford Financial Services Group by 0.9% in the 1st quarter. M&T Bank Corp now owns 27,460 shares of the insurance provider’s stock worth $1,365,000 after buying an additional 248 shares during the last quarter. 91.21% of the stock is owned by institutional investors and hedge funds.

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About Hartford Financial Services Group (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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