Hartford Financial Services Group Target of Unusually High Options Trading (HIG)

Hartford Financial Services Group Inc (NYSE:HIG) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 9,389 put options on the company. This is an increase of approximately 665% compared to the typical volume of 1,227 put options.

A number of equities analysts have weighed in on HIG shares. Zacks Investment Research raised Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. TheStreet downgraded Hartford Financial Services Group from a “b-” rating to a “c+” rating in a research report on Friday, April 6th. Wells Fargo & Co set a $56.00 price target on Hartford Financial Services Group and gave the stock a “hold” rating in a research report on Monday, April 2nd. Citigroup reduced their price target on Hartford Financial Services Group from $59.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, April 10th. Finally, ValuEngine raised Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $59.58.

In other Hartford Financial Services Group news, insider Brion S. Johnson sold 11,569 shares of the company’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $51.91, for a total transaction of $600,546.79. Following the completion of the transaction, the insider now owns 61,445 shares of the company’s stock, valued at approximately $3,189,609.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Scott R. Lewis sold 2,319 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $53.87, for a total value of $124,924.53. Following the transaction, the senior vice president now directly owns 16,187 shares of the company’s stock, valued at approximately $871,993.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,192 shares of company stock valued at $3,436,250. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Hartford Financial Services Group by 48.3% in the 4th quarter. Franklin Resources Inc. now owns 8,880,765 shares of the insurance provider’s stock valued at $499,810,000 after buying an additional 2,892,470 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Hartford Financial Services Group by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 7,517,341 shares of the insurance provider’s stock valued at $423,074,000 after purchasing an additional 31,502 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Hartford Financial Services Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,833,222 shares of the insurance provider’s stock valued at $215,287,000 after purchasing an additional 77,475 shares during the last quarter. Millennium Management LLC lifted its holdings in Hartford Financial Services Group by 15.8% during the 4th quarter. Millennium Management LLC now owns 1,958,892 shares of the insurance provider’s stock valued at $110,246,000 after purchasing an additional 267,950 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in Hartford Financial Services Group by 3.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,472,195 shares of the insurance provider’s stock valued at $82,855,000 after purchasing an additional 51,326 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Hartford Financial Services Group opened at $52.33 on Friday, according to MarketBeat. The company has a market capitalization of $18.57 billion, a PE ratio of 19.10, a P/E/G ratio of 1.19 and a beta of 0.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. Hartford Financial Services Group has a 12 month low of $48.85 and a 12 month high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 26th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.07 by $0.20. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.62 billion. Hartford Financial Services Group had a positive return on equity of 8.93% and a negative net margin of 15.59%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. sell-side analysts forecast that Hartford Financial Services Group will post 4.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, May 31st. Hartford Financial Services Group’s payout ratio is presently 36.50%.

Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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