The Hartford Financial Services Group, Inc. (NYSE:HIG) Short Interest Up 6.3% in January

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

The Hartford Financial Services Group Price Performance

Shares of HIG traded down $1.00 during mid-day trading on Friday, reaching $111.37. The stock had a trading volume of 2,403,711 shares, compared to its average volume of 1,627,411. The Hartford Financial Services Group has a 12 month low of $93.78 and a 12 month high of $124.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.12 and a beta of 0.97. The business has a fifty day moving average of $110.95 and a 200 day moving average of $114.09.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. Equities analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio is 20.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective 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. BMO Capital Markets boosted their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a "market perform" rating in a research report on Wednesday, November 27th. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Finally, Piper Sandler upped 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. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.94.

Institutional Trading of The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $416,340,000. AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock valued at $132,710,000 after purchasing an additional 881,224 shares during the period. Ameriprise Financial Inc. lifted its stake in The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after acquiring an additional 735,170 shares during the period. Assenagon Asset Management S.A. boosted its holdings in The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock valued at $95,322,000 after purchasing an additional 709,324 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider's stock worth $816,310,000 after buying an additional 691,900 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

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.