Short Interest in The Hartford Financial Services Group, Inc. (NYSE:HIG) Declines By 32.0%

The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,800,000 shares, a decline of 32.0% from the March 15th total of 4,120,000 shares. Currently, 1.0% of the company's shares are short sold. Based on an average daily trading volume, of 1,800,000 shares, the short-interest ratio is presently 1.6 days.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded up $0.77 during trading hours on Wednesday, hitting $119.51. The stock had a trading volume of 561,666 shares, compared to its average volume of 1,572,743. 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 firm has a market capitalization of $34.42 billion, a PE ratio of 11.55, a PEG ratio of 1.12 and a beta of 0.68. The stock's 50 day moving average is $117.27 and its 200 day moving average is $115.33. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.74%. The Hartford Financial Services Group's payout ratio is currently 20.10%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,343 shares of company stock valued at $13,488,337. Insiders own 1.60% of the company's stock.

Institutional Trading of The Hartford Financial Services Group

Institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock worth $26,000 after acquiring an additional 234 shares during the last quarter. Barrett & Company Inc. grew its stake in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock worth $32,000 after acquiring an additional 93 shares during the period. Spurstone Advisory Services LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at $33,000. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Financial Services Group during the 1st quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. acquired a new position in The Hartford Financial Services Group during the fourth quarter worth approximately $35,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HIG has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. 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 report on Monday, February 3rd. Keefe, Bruyette & Woods cut their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler raised their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Finally, Barclays boosted their price objective on The Hartford Financial Services Group from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.13.

About The Hartford Financial Services Group

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.