The Hartford Financial Services Group (NYSE:HIG) Hits New 12-Month Low at $61.36

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) hit a new 52-week low on Friday . The stock traded as low as $61.36 and last traded at $61.62, with a volume of 17197 shares. The stock had previously closed at $62.39.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HIG. Jefferies Financial Group dropped their target price on The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, July 12th. Credit Suisse Group increased their price objective on The Hartford Financial Services Group from $93.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, June 3rd. Morgan Stanley increased their price objective on The Hartford Financial Services Group from $73.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, August 19th. Royal Bank of Canada lowered their price objective on The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating on the stock in a report on Monday, August 1st. Finally, Barclays lowered their price objective on The Hartford Financial Services Group to $78.00 in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.20.

The Hartford Financial Services Group Stock Performance

The firm has a 50 day moving average of $65.47 and a two-hundred day moving average of $68.18. The stock has a market cap of $19.75 billion, a P/E ratio of 10.13, a P/E/G ratio of 1.25 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last announced its earnings results on Thursday, July 28th. The insurance provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.63. The Hartford Financial Services Group had a return on equity of 15.03% and a net margin of 9.42%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter in the prior year, the company earned $2.33 EPS. On average, research analysts predict that The Hartford Financial Services Group, Inc. will post 7.21 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 1st will be paid a dividend of $0.385 per share. The ex-dividend date is Wednesday, August 31st. This represents a $1.54 annualized dividend and a yield of 2.52%. The Hartford Financial Services Group’s payout ratio is 25.33%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, SVP Scott R. Lewis sold 2,558 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $65.04, for a total value of $166,372.32. Following the completion of the sale, the senior vice president now owns 18,396 shares in the company, valued at approximately $1,196,475.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

A number of hedge funds have recently modified their holdings of the company. SouthState Corp raised its holdings in shares of The Hartford Financial Services Group by 1,369.2% in the 2nd quarter. SouthState Corp now owns 382 shares of the insurance provider’s stock worth $25,000 after buying an additional 356 shares in the last quarter. Core Alternative Capital increased its stake in shares of The Hartford Financial Services Group by 706.1% in the 2nd quarter. Core Alternative Capital now owns 395 shares of the insurance provider’s stock valued at $26,000 after buying an additional 346 shares during the period. Parkside Investments LLC bought a new position in shares of The Hartford Financial Services Group in the 1st quarter worth $30,000. Trustcore Financial Services LLC bought a new position in shares of The Hartford Financial Services Group in the 2nd quarter worth $30,000. Finally, James Reed Financial Services Inc. bought a new position in shares of The Hartford Financial Services Group in the 4th quarter worth $34,000. Institutional investors own 90.14% of the company’s stock.

The Hartford Financial Services Group Company Profile

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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