The Hartford Financial Services Group, Inc. (NYSE:HIG) Sees Large Growth in Short Interest

The Hartford Financial Services Group, Inc. (NYSE:HIG) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 4,200,000 shares, a growth of 17.6% from the March 15th total of 3,570,000 shares. Based on an average daily trading volume, of 1,820,000 shares, the short-interest ratio is presently 2.3 days. Currently, 1.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley upped their price objective on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Royal Bank of Canada increased their price target on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, February 5th. TD Cowen increased their price target on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, UBS Group increased their price target on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.82.

Insider Activity at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 4,633 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $83.06, for a total value of $384,816.98. Following the completion of the transaction, the chief executive officer now owns 170,180 shares in the company, valued at approximately $14,135,150.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Swift sold 4,633 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $83.06, for a total transaction of $384,816.98. Following the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,135,150.80. The disclosure for this sale can be found here. Insiders sold 253,715 shares of company stock worth $22,789,138 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HIG. GoalVest Advisory LLC lifted its holdings in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at $27,000. Chilton Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at $28,000. Finally, Selway Asset Management acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at $29,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Down 0.5 %

Shares of HIG stock opened at $97.31 on Tuesday. The stock has a market cap of $28.93 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The Hartford Financial Services Group has a one year low of $67.05 and a one year high of $103.64. The stock has a fifty day moving average price of $97.21 and a 200 day moving average price of $84.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.44 by $0.62. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The Hartford Financial Services Group’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $2.31 earnings per share. Analysts predict that The Hartford Financial Services Group will post 10.12 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The Hartford Financial Services Group’s payout ratio is presently 23.53%.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.