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

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

A number of research analysts have commented on the stock. Wells Fargo & Co restated a “hold” rating and set a $58.00 price target on shares of Hartford Financial Services Group in a research note on Monday, November 4th. Royal Bank of Canada raised their price target on shares of 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. Barclays set a $70.00 price target on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 12th. MKM Partners raised their price target on shares of Hartford Financial Services Group to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley raised their price target on shares of Hartford Financial Services Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.92.

The business’s 50 day moving average price is $59.04 and its 200-day moving average price is $57.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $22.16 billion, a P/E ratio of 14.32, a PEG ratio of 1.19 and a beta of 0.62.

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

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

In related news, EVP William A. Bloom sold 7,926 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.71, for a total value of $481,187.46. Following the completion of the sale, the executive vice president now owns 26,211 shares of the company’s stock, valued at $1,591,269.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brion S. Johnson sold 3,299 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $60.79, for a total transaction of $200,546.21. Following the completion of the sale, the executive vice president now directly owns 23,649 shares of the company’s stock, valued at approximately $1,437,622.71. The disclosure for this sale can be found here. Insiders sold 58,665 shares of company stock valued at $3,507,405 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of HIG. Pensionfund DSM Netherlands acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at approximately $2,452,000. Pensionfund Sabic acquired a new stake in Hartford Financial Services Group during the 2nd quarter worth $1,616,000. Crossmark Global Holdings Inc. grew its holdings in Hartford Financial Services Group by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 46,233 shares of the insurance provider’s stock worth $2,576,000 after acquiring an additional 1,951 shares during the period. Retirement Systems of Alabama grew its holdings in Hartford Financial Services Group by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 168,582 shares of the insurance provider’s stock worth $9,393,000 after acquiring an additional 1,197 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new stake in Hartford Financial Services Group during the 2nd quarter worth $215,000. 91.75% 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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