Insider Buying: Julie Richardson Acquires 4,500 Shares of Hartford Financial Services Group Stock (HIG)
Hartford Financial Services Group (NYSE:HIG) Director Julie Richardson purchased 4,500 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average price of $35.40 per share, with a total value of $159,300.00. Following the acquisition, the director now directly owns 1,572 shares in the company, valued at approximately $55,649. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Hartford Financial Services Group (NYSE:HIG) traded up 1.03% during mid-day trading on Wednesday, hitting $35.33. 3,614,558 shares of the company’s stock traded hands. Hartford Financial Services Group has a 52 week low of $28.04 and a 52 week high of $36.76. The stock’s 50-day moving average is $34.98 and its 200-day moving average is $34.90. The company has a market cap of $15.987 billion and a price-to-earnings ratio of 19.22. Hartford Financial Services Group also saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 14,490,397 shares, a drop of 18.7% from the March 31st total of 17,816,317 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily volume of 4,290,796 shares, the days-to-cover ratio is currently 3.4 days.
Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, April 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.25. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts predict that Hartford Financial Services Group will post $3.56 earnings per share for the current fiscal year.
HIG has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Hartford Financial Services Group from $40.00 to $42.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Separately, analysts at Portales Partners downgraded shares of Hartford Financial Services Group from an “outperform” rating to a “sector perform” rating in a research note on Monday, April 28th. Finally, analysts at RBC Capital reiterated a “sector perform” rating on shares of Hartford Financial Services Group in a research note on Monday, March 17th. They now have a $36.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $34.58.
Hartford Financial Services Group Inc, formerly The Hartford Financial Services Group, Inc, is an insurance and financial services company.
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