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

The Hartford Financial Services Group, Inc. (NYSE:HIG) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,750,000 shares, a growth of 9.4% from the May 31st total of 4,340,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is currently 3.0 days.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $99.60 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.83 and a beta of 0.93. The Hartford Financial Services Group has a 1 year low of $68.82 and a 1 year high of $105.20. The firm has a 50 day moving average price of $100.65 and a 200 day moving average price of $94.91.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that The Hartford Financial Services Group will post 9.91 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HIG shares. Argus raised their price target on The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. TD Cowen lifted their target price 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $105.00 price target on shares of The Hartford Financial Services Group in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Citigroup downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $116.00 to $114.00 in a research report on Friday, June 28th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.71.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the transaction, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,499 shares of company stock worth $9,449,309. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIG. Massmutual Trust Co. FSB ADV increased its position in shares of The Hartford Financial Services Group by 52.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,228 shares of the insurance provider’s stock worth $123,000 after acquiring an additional 424 shares in the last quarter. GAMMA Investing LLC increased its holdings in The Hartford Financial Services Group by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,599 shares of the insurance provider’s stock valued at $764,000 after purchasing an additional 1,741 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in The Hartford Financial Services Group by 34.4% in the first quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 121 shares during the period. Railway Pension Investments Ltd acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth about $3,390,000. Finally, Cetera Advisors LLC boosted its position in shares of The Hartford Financial Services Group by 64.8% in the first quarter. Cetera Advisors LLC now owns 17,472 shares of the insurance provider’s stock worth $1,800,000 after buying an additional 6,872 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.