The Hartford Financial Services Group, Inc. (NYSE:HIG) Sees Large Growth in Short Interest

The Hartford Financial Services Group, Inc. (NYSE:HIG) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 4,060,000 shares, a growth of 6.3% from the January 15th total of 3,820,000 shares. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.4% of the shares of the stock are short sold.

The Hartford Financial Services Group Trading Up 0.6 %

Shares of HIG traded up $0.72 during mid-day trading on Tuesday, reaching $112.70. The stock had a trading volume of 1,462,570 shares, compared to its average volume of 1,664,409. The Hartford Financial Services Group has a 52-week low of $92.54 and a 52-week high of $124.90. The firm has a market cap of $32.67 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.12 and a beta of 0.97. The business’s fifty day moving average is $110.94 and its 200 day moving average is $114.04. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. On average, sell-side analysts predict that The Hartford Financial Services Group will post 11.23 EPS for the current fiscal year.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its holdings in shares of The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd boosted its stake in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after buying an additional 4,449 shares during the period. Lecap Asset Management Ltd. purchased a new position in The Hartford Financial Services Group during the third quarter worth about $633,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of The Hartford Financial Services Group during the third quarter valued at about $19,005,000. Finally, Citigroup Inc. raised its stake in shares of The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after acquiring an additional 10,566 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HIG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler boosted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

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.