The Hartford Financial Services Group, Inc. (NYSE:HIG) Short Interest Update

The Hartford Financial Services Group, Inc. (NYSE:HIG) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 2,800,000 shares, a decline of 32.0% from the March 15th total of 4,120,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 1,800,000 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,343 shares of company stock worth $13,488,337 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIG. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. lifted its stake in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. Spurstone Advisory Services LLC purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $35,000. Finally, DT Investment Partners LLC raised its holdings in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of analyst reports. Piper Sandler raised their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Wells Fargo & Company reduced their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Barclays boosted their price target on shares of The Hartford Financial Services Group from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 11th. Jefferies Financial Group dropped their price target on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods cut their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $124.13.

The Hartford Financial Services Group Stock Up 0.6 %

NYSE:HIG opened at $117.84 on Friday. The Hartford Financial Services Group has a 1-year low of $94.47 and a 1-year high of $125.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s 50-day moving average price is $116.95 and its 200-day moving average price is $115.36. The company has a market capitalization of $33.94 billion, a PE ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. On average, equities analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

About The Hartford Financial Services Group

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.