Hartford Financial Services Group (NYSE:HIG) Sets New 12-Month High at $60.82

Hartford Financial Services Group Inc (NYSE:HIG) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $60.82 and last traded at $60.82, with a volume of 55906 shares trading hands. The stock had previously closed at $60.73.

HIG has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Hartford Financial Services Group from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. UBS Group upped their price objective on shares of Hartford Financial Services Group from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Buckingham Research upped their price objective on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada upped their price objective on shares of Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Barclays set a $70.00 target price on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.08.

The stock’s 50 day moving average price is $58.80 and its 200 day moving average price is $54.40. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $22.00 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.22 and a beta of 0.64.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.98%. Hartford Financial Services Group’s dividend payout ratio is 27.71%.

In other news, insider Martha Gervasi sold 3,672 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $57.95, for a total transaction of $212,792.40. Following the completion of the transaction, the insider now directly owns 18,882 shares in the company, valued at approximately $1,094,211.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Brion S. Johnson sold 3,316 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $60.06, for a total transaction of $199,158.96. Following the transaction, the executive vice president now owns 36,863 shares of the company’s stock, valued at $2,213,991.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,011 shares of company stock valued at $5,341,602. Company insiders own 1.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. IFM Investors Pty Ltd lifted its stake in Hartford Financial Services Group by 14.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 26,441 shares of the insurance provider’s stock valued at $1,473,000 after purchasing an additional 3,387 shares during the last quarter. Swiss National Bank lifted its stake in Hartford Financial Services Group by 16.5% in the 1st quarter. Swiss National Bank now owns 1,358,015 shares of the insurance provider’s stock valued at $67,521,000 after purchasing an additional 192,000 shares during the last quarter. Foundry Partners LLC lifted its stake in Hartford Financial Services Group by 0.6% in the 2nd quarter. Foundry Partners LLC now owns 241,956 shares of the insurance provider’s stock valued at $13,482,000 after purchasing an additional 1,500 shares during the last quarter. Martingale Asset Management L P raised its holdings in Hartford Financial Services Group by 129.0% in the 1st quarter. Martingale Asset Management L P now owns 94,524 shares of the insurance provider’s stock valued at $4,700,000 after acquiring an additional 53,242 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Hartford Financial Services Group by 46.0% in the 2nd quarter. Schroder Investment Management Group now owns 75,841 shares of the insurance provider’s stock valued at $4,226,000 after acquiring an additional 23,879 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

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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