Hartford Financial Services Group (NYSE:HIG) Reaches New 1-Year High at $59.25

Shares of Hartford Financial Services Group Inc (NYSE:HIG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.25 and last traded at $59.20, with a volume of 49095 shares changing hands. The stock had previously closed at $58.47.

HIG has been the topic of several recent analyst reports. Barclays set a $70.00 target price on shares of Hartford Financial Services Group and gave the company a “buy” rating in a report on Monday, August 12th. Zacks Investment Research lowered shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Goldman Sachs Group upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.00 to $64.00 in a report on Wednesday, May 29th. B. Riley boosted their target price on shares of Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Royal Bank of Canada boosted their target price on shares of Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $61.92.

The firm’s fifty day moving average price is $57.57 and its two-hundred day moving average price is $52.76. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.16 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.28 and a quick ratio of 0.28.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.07 billion. Hartford Financial Services Group had a net margin of 8.36% and a return on equity of 12.44%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 earnings per share. On average, equities research analysts anticipate that Hartford Financial Services Group Inc will post 5.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, August 30th. Hartford Financial Services Group’s payout ratio is presently 27.71%.

In other Hartford Financial Services Group news, Director Robert B. Allardice III sold 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $58.71, for a total value of $205,485.00. Following the completion of the sale, the director now directly owns 21,684 shares of the company’s stock, valued at approximately $1,273,067.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert B. Allardice III sold 6,500 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $54.44, for a total transaction of $353,860.00. Following the completion of the sale, the director now directly owns 30,684 shares of the company’s stock, valued at $1,670,436.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,959 shares of company stock valued at $5,805,656. 1.70% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of HIG. Nuveen Asset Management LLC grew its position in Hartford Financial Services Group by 4,218.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,383,344 shares of the insurance provider’s stock worth $299,960,000 after purchasing an additional 5,258,671 shares in the last quarter. BlackRock Inc. boosted its stake in Hartford Financial Services Group by 8.1% in the second quarter. BlackRock Inc. now owns 30,044,477 shares of the insurance provider’s stock valued at $1,674,077,000 after acquiring an additional 2,257,147 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Hartford Financial Services Group by 1,515.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,760,081 shares of the insurance provider’s stock valued at $98,069,000 after acquiring an additional 1,651,139 shares during the last quarter. Rothschild & Co. Asset Management US Inc. purchased a new position in Hartford Financial Services Group in the first quarter valued at about $54,961,000. Finally, Neuberger Berman Group LLC boosted its stake in Hartford Financial Services Group by 136.4% in the first quarter. Neuberger Berman Group LLC now owns 1,744,032 shares of the insurance provider’s stock valued at $86,714,000 after acquiring an additional 1,006,409 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

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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