The Hartford Financial Services Group Inc. [NYSE: HIG] stock went on an upward path that rose over 2.65% on Tuesday, amounting to a one-week price increase of more than 0.61%. The company report on March 23, 2021 that The Hartford Board Of Directors Unanimously Rejects Unsolicited Proposal From Chubb.
Determines Chubb proposal is not in best interests of shareholders.
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The Hartford (NYSE: HIG) announced that its board of directors, after consultation with its financial and legal advisors, has unanimously rejected Chubb Limited’s March 11, 2021, unsolicited proposal to acquire The Hartford and determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders. The board reaffirmed its commitment and resolve in the continued execution of The Hartford’s strategic business plan.
Over the last 12 months, HIG stock rose by 88.92%. The one-year The Hartford Financial Services Group Inc. stock forecast points to a potential downside of -1.64. The average equity rating for HIG stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $24.73 billion, with 358.30 million shares outstanding and 356.80 million shares in the current float. Compared to the average trading volume of 3.00M shares, HIG stock reached a trading volume of 6504355 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on The Hartford Financial Services Group Inc. [HIG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HIG shares is $66.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HIG stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for The Hartford Financial Services Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 19, 2021. While these analysts kept the previous recommendation, MKM Partners raised their target price from $65 to $70. The new note on the price target was released on March 19, 2021, representing the official price target for The Hartford Financial Services Group Inc. stock. Previously, the target price had yet another raise to $60, while Raymond James analysts kept a Outperform rating on HIG stock.
The Average True Range (ATR) for The Hartford Financial Services Group Inc. is set at 2.34, with the Price to Sales ratio for HIG stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.41. Price to Free Cash Flow for HIG in the course of the last twelve months was 7.63.
HIG Stock Performance Analysis:
The Hartford Financial Services Group Inc. [HIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.61. With this latest performance, HIG shares gained by 30.31% in over the last four-week period, additionally plugging by 83.60% over the last 6 months – not to mention a rise of 88.92% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HIG stock in for the last two-week period is set at 71.31, with the RSI for the last a single of trading hit 70.15, and the three-weeks RSI is set at 70.75 for The Hartford Financial Services Group Inc. [HIG]. The present Moving Average for the last 50 days of trading for this stock 54.47, while it was recorded at 67.52 for the last single week of trading, and 45.08 for the last 200 days.
Insight into The Hartford Financial Services Group Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and The Hartford Financial Services Group Inc. [HIG] shares currently have an operating margin of +11.99. The Hartford Financial Services Group Inc.’s Net Margin is presently recorded at +8.46.
Return on Total Capital for HIG is now 11.07, given the latest momentum, and Return on Invested Capital for the company is 7.92. Return on Equity for this stock inclined to 9.98, with Return on Assets sitting at 2.57. When it comes to the capital structure of this company, The Hartford Financial Services Group Inc. [HIG] has a Total Debt to Total Equity ratio set at 24.64. Additionally, HIG Total Debt to Total Capital is recorded at 19.77, with Total Debt to Total Assets ending up at 6.61. Long-Term Debt to Equity for the company is recorded at 24.84, with the Long-Term Debt to Total Capital now at 19.57.
Reflecting on the efficiency of the workforce at the company, The Hartford Financial Services Group Inc. [HIG] managed to generate an average of $93,892 per employee.
HIG Stock EPS
With the latest financial reports released by the company, The Hartford Financial Services Group Inc. posted 1.34/share EPS, while the average EPS was predicted by analysts to be reported at 1.35/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Hartford Financial Services Group Inc. go to 4.42%.
The Hartford Financial Services Group Inc. [HIG] Insider Position Details
There are presently around $22,376 million, or 94.00% of HIG stock, in the hands of institutional investors. The top three institutional holders of HIG stocks are: VANGUARD GROUP INC with ownership of 38,908,481, which is approximately -1.308% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 24,677,290 shares of the stock with an approximate value of $1.67 billion in HIG stocks shares; and JPMORGAN CHASE & CO, currently with $1.38 billion in HIG stock with ownership of nearly 9.312% of the company’s market capitalization.
Positions in The Hartford Financial Services Group Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 314 institutional holders increased their position in The Hartford Financial Services Group Inc. [NYSE:HIG] by around 29,960,628 shares. Additionally, 284 investors decreased positions by around 27,735,538 shares, while 94 investors held positions by with 272,777,043 shares. The mentioned changes placed institutional holdings at 330,473,209 shares, according to the latest SEC report filing. HIG stock had 97 new institutional investments in for a total of 10,885,819 shares, while 55 institutional investors sold positions of 1,749,508 shares during the same period.