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The Hartford Financial Services Group Inc. (HIG) – Don’t Believe the Hype: Check The Facts

935 institutions hold shares in The Hartford Financial Services Group Inc. (HIG), with 1.15M shares held by insiders accounting for 0.32% while institutional investors hold 94.25% of the company’s shares. The shares outstanding are 358.30M, and float is at 356.80M with Short Float at 1.10%. Institutions hold 93.95% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 38.91 million shares valued at $1.91 billion. The investor’s holdings represent 10.89% of the HIG Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 24.68 million shares valued at $1.21 billion to account for 6.91% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 20.43 million shares representing 5.72% and valued at over $1.0 billion, while State Street Corporation holds 5.51% of the shares totaling 19.7 million with a market value of $964.83 million.

The Hartford Financial Services Group Inc. (NYSE: HIG) is 39.44% higher on its value in year-to-date trading and has touched a low of $30.26 and a high of $69.60 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HIG stock was last observed hovering at around $68.28 in the last trading session, with the day’s gains setting it 0.02% off its average median price target of $70.00 for the next 12 months. It is also 16.71% off the consensus price target high of $82.00 offered by 15 analysts, but current levels are -24.18% lower than the price target low of $55.00 for the same period.

Currently trading at $68.30, the stock is 9.98% and 24.03% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.48 million and changing 0.03% at the moment leaves the stock 50.64% off its SMA200. HIG registered 105.29% gain for a year compared to 6-month gain of 85.75%. The firm has a 50-day simple moving average (SMA 50) of $57.79 and a 200-day simple moving average (SMA200) of $47.78.

The stock witnessed a 31.22% loss in the last 1 month and extending the period to 3 months gives it a 39.44%, and is 0.89% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.22% over the week and 3.83% over the month.

The Hartford Financial Services Group Inc. (HIG) has around 18500 employees, a market worth around $23.87B and $20.52B in sales. Current P/E ratio is 14.40 and Fwd P/E is 10.97. Profit margin for the company is 8.40%. Distance from 52-week low is 125.67% and -1.87% from its 52-week high. The company has generated returns on investments over the last 12 months (8.70%).

The Hartford Financial Services Group Inc. (HIG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for The Hartford Financial Services Group Inc. (HIG) is a “Overweight”. 15 analysts offering their recommendations for the stock have an average rating of 2.10, where 3 rate it as a Hold and 2 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

The Hartford Financial Services Group Inc. is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at $1.18 with sales reaching $5.18B over the same period.The EPS is expected to shrink by -16.20% this year, but quarterly earnings will post 0.20% year-over-year. Quarterly sales are estimated to grow 4.50% in year-over-year returns.

The Hartford Financial Services Group Inc. (HIG) Insider Activity

A total of 37 insider transactions have happened at The Hartford Financial Services Group Inc. (HIG) in the last six months, with sales accounting for 20 and purchases happening 17 times. The most recent transaction is an insider sale by Robinson David C, the company’s EVP and General Counsel. SEC filings show that Robinson David C sold 15,693 shares of the company’s common stock on Apr 01 at a price of $66.37 per share for a total of $1.04 million. Following the sale, the insider now owns 14988.0 shares.

The Hartford Financial Services Group Inc. disclosed in a document filed with the SEC on Mar 31 that Bennett Jonathan R (EVP) sold a total of 1,865 shares of the company’s common stock. The trade occurred on Mar 31 and was made at $68.00 per share for $0.13 million. Following the transaction, the insider now directly holds 25641.0 shares of the HIG stock.

Still, SEC filings show that on Mar 29, Bloom William A (Executive Vice President) disposed off 33,019 shares at an average price of $65.22 for $2.15 million. The insider now directly holds 37,353 shares of The Hartford Financial Services Group Inc. (HIG).

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The Hartford Financial Services Group Inc. (HIG): Who are the competitors?

The company’s main competitors (and peers) include Aegon N.V. (AEG) that is 110.48% higher over the past 12 months. RLI Corp. (RLI) is 35.83% up on the 1-year trading charts. Short interest in the company’s stock has fallen -9.69% from the last report on Feb 11, 2021 to stand at a total of 4.3 million short shares sold with a short interest ratio of 1.69.

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