The Hartford Financial Services Group Inc. (NYSE:HIG) finished Friday with an addition of $0.19 to close at $71.79, an upside of 0.27 percent. An average of 923,580 shares of common stock have been traded in the last five days. There was a fall of -$0.03 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 1,215,390 shares traded, while the 50-day average volume stands at 1,421,516.
HIG stock has decreased by -5.63% in the last month. The company shares reached their 1-month lowest point of $70.86 on 08/22/23. With the stock rallying to its 52-week high on 01/06/23, shares of the company touched a low of $60.17 and a high of $79.44 in 52 weeks. It has reached a new high 4 times so far this year and lost -5.33% or -$4.04 in price. In spite of this, the price is down -9.63% from the 52-week high.
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Insider Transactions
HIG stock investors should be aware that The Hartford Financial Services Group Inc. (HIG) stock had its last reported insider trading activity 19 days ago on Aug 07. In this transaction, the insider spent $24,515. EVP & Chief Risk Officer, Paiano Robert W, disposed of 13,939 shares at a price of $72.49 on Aug 03. The insider now owns more than $1,010,421 worth of shares. Prior to that, EVP BUSH STEPHANIE C went on to Sale 3,500 shares at $72.40 each on Aug 02. An amount of $253,389 was transacted.
Valuation Metrics
The Hartford Financial Services Group Inc. (HIG) has a trailing price-to-earnings (P/E) ratio of 11.53. The stock’s beta is 0.85. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.93, the price-to-book (PB) ratio at 1.61, and the price-to-cash flow ratio at 6.76.
Financial Health
Further, the company has a long term debt to equity ratio of 0.32 and a total debt to equity ratio of 0.32 for the quarter ending June 29. Its gross profit as reported stood at $2.26 billion compared to revenue of $22.36 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, The Hartford Financial Services Group Inc.’s return on assets was 2.70%.
Earnings Surprise
For the three-month period that ended June 29, The Hartford Financial Services Group Inc. had $4.36 billion in total debt. The company posted a net income of $542.0 million in the quarter, while revenues were grew 18.82%. The analyst consensus anticipated The Hartford Financial Services Group Inc.’s latest quarter earnings to come in at $1.85 per share, but it turned out to be $1.88, a 1.60% surprise. At the end of the quarter ending June 29, The Hartford Financial Services Group Inc.’s stock balance sheet showed total debt was $4.36 billion. Shareholders own equity worth $305.82 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at The Hartford Financial Services Group Inc. (HIG) price momentum. RSI 9-day as of the close on 25 August was 45.50%, suggesting the stock is Neutral, with historical volatility in this time frame at 11.18%.
As of today, HIG’s price is $71.43 -0.04% or -$0.03 from its 5-day moving average. HIG is currently trading -0.62% lower than its 20-day SMA and +2.38% higher than its 100-day SMA. However, the stock’s current price level is +1.63% above the SMA50 and -2.95% below the SMA200.
The stochastic %K and %D were 21.26% and 15.22%, respectively, and the average true range (ATR) was 1.12. With the 14-day stochastic at 27.84% and the average true range at 1.18, the RSI (14) stands at 46.53%. The stock has reached -0.09 on the 9-day MACD Oscillator while the 14-day reading was at -0.64.
Analyst Ratings
Morgan Stanley launched coverage on The Hartford Financial Services Group Inc. (NYSE: HIG) in its analyst report released on June 20, 2023. The firm assigned the stock an Equal-weight rating. The consensus rating for The Hartford Financial Services Group Inc. (HIG) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell HIG, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 11 others rate it as a “buy”.
What is HIG’s price target for the next 12 months?
Analysts predict a range of price targets between $75.00 and $100.00, with a median target of $84.50. Taking a look at these predictions, the average price target given by analysts for The Hartford Financial Services Group Inc. (HIG) stock is $85.22.
