The Hartford Financial Services Group Inc. [NYSE: HIG] stock went on a downward path that fall over -2.32% on Thursday, amounting to a one-week price decrease of less than -0.33%. The company report on July 28, 2022 that The Hartford Announces Second Quarter 2022 Financial Results.
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Board Authorized New $3.0 Billion Share Repurchase Program.
Second quarter 2022 net income available to common stockholders of $437 million ($1.32 per diluted share) compared with $900 million ($2.51 per diluted share) in the 2021 period, and core earnings* of $714 million ($2.15 core earnings per diluted share*) compared with $836 million ($2.33 core earnings per diluted share) in the 2021 period.
Over the last 12 months, HIG stock rose by 3.27%. The one-year The Hartford Financial Services Group Inc. stock forecast points to a potential upside of 24.7. 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 $20.44 billion, with 332.30 million shares outstanding and 327.68 million shares in the current float. Compared to the average trading volume of 1.94M shares, HIG stock reached a trading volume of 3612827 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 $83.47 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.
Citigroup have made an estimate for The Hartford Financial Services Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 24, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on November 23, 2021, representing the official price target for The Hartford Financial Services Group Inc. stock. Previously, the target price had yet another raise to $81, while Jefferies analysts kept a Hold rating on HIG stock.
The Average True Range (ATR) for The Hartford Financial Services Group Inc. is set at 1.61, with the Price to Sales ratio for HIG stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 0.69. Price to Free Cash Flow for HIG in the course of the last twelve months was 6.43.
HIG Stock Performance Analysis:
The Hartford Financial Services Group Inc. [HIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.33. With this latest performance, HIG shares dropped by -3.99% in over the last four-week period, additionally sinking by -10.51% over the last 6 months – not to mention a rise of 3.27% 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 41.45, with the RSI for the last a single of trading hit 40.44, and the three-weeks RSI is set at 42.02 for The Hartford Financial Services Group Inc. [HIG]. The present Moving Average for the last 50 days of trading for this stock 66.73, while it was recorded at 64.02 for the last single week of trading, and 69.75 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 +13.98. The Hartford Financial Services Group Inc.’s Net Margin is presently recorded at +10.56.
Return on Equity for this stock inclined to 12.99, with Return on Assets sitting at 3.38.
HIG Stock EPS
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 12.84%.
The Hartford Financial Services Group Inc. [HIG] Insider Position Details
There are presently around $18,919 million, or 94.30% of HIG stock, in the hands of institutional investors. The top three institutional holders of HIG stocks are: VANGUARD GROUP INC with ownership of 39,816,002, which is approximately 0.072% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 25,778,230 shares of the stock with an approximate value of $1.62 billion in HIG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.32 billion in HIG stock with ownership of nearly -3.105% of the company’s market capitalization.
Positions in The Hartford Financial Services Group Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 350 institutional holders increased their position in The Hartford Financial Services Group Inc. [NYSE:HIG] by around 13,053,493 shares. Additionally, 318 investors decreased positions by around 20,411,787 shares, while 127 investors held positions by with 267,553,342 shares. The mentioned changes placed institutional holdings at 301,018,622 shares, according to the latest SEC report filing. HIG stock had 83 new institutional investments in for a total of 2,195,945 shares, while 62 institutional investors sold positions of 3,079,395 shares during the same period.