The Hartford Financial Services Group Inc. [HIG] Revenue clocked in at $22.36 billion, down -9.51% YTD: What’s Next?

The Hartford Financial Services Group Inc. [NYSE: HIG] jumped around 3.29 points on Thursday, while shares priced at $68.62 at the close of the session, up 5.04%. The company report on March 14, 2023 that The Hartford Names Shekar Pannala Chief Information Officer For Property & Casualty.

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The Hartford has named Shekar Pannala chief information officer (CIO) for Property & Casualty, effective March 13. In this newly created role, Pannala will lead technology across the company’s Personal Lines, Small Commercial and Middle & Large Commercial businesses. He will report to The Hartford’s Chief Information Officer Deepa Soni, who leads technology, data, analytics and cyber security across the enterprise.

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The Hartford Financial Services Group Inc. stock is now -9.51% down from its year-to-date (YTD) trading value. HIG Stock saw the intraday high of $68.65 and lowest of $64.335 per share. The company’s 52-week high price is 79.44, which means current price is +6.80% above from all time high which was touched on 01/06/23.

Compared to the average trading volume of 1.82M shares, HIG reached a trading volume of 4492595 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $87.75 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.

BMO Capital Markets have made an estimate for The Hartford Financial Services Group Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 20, 2023. The new note on the price target was released on January 10, 2023, representing the official price target for The Hartford Financial Services Group Inc. stock. Previously, the target price had yet another raise to $84, while Goldman analysts kept a Neutral rating on HIG stock.

The Average True Range (ATR) for The Hartford Financial Services Group Inc. is set at 2.08, with the Price to Sales ratio for HIG stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 0.71. Price to Free Cash Flow for HIG in the course of the last twelve months was 6.63.

How has HIG stock performed recently?

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 -4.80. With this latest performance, HIG shares dropped by -11.55% in over the last four-week period, additionally plugging by 4.51% over the last 6 months – not to mention a rise of 0.78% 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 35.22, with the RSI for the last a single of trading hit 35.15, and the three-weeks RSI is set at 36.99 for The Hartford Financial Services Group Inc. [HIG]. The present Moving Average for the last 50 days of trading for this stock 75.72, while it was recorded at 67.88 for the last single week of trading, and 70.27 for the last 200 days.

Earnings analysis for The Hartford Financial Services Group Inc. [HIG]

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 12.72%.

Insider trade positions for The Hartford Financial Services Group Inc. [HIG]

There are presently around $19,900 million, or 93.60% of HIG stock, in the hands of institutional investors. The top three institutional holders of HIG stocks are: VANGUARD GROUP INC with ownership of 39,535,660, which is approximately -0.61% of the company’s market cap and around 0.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 24,773,081 shares of the stock with an approximate value of $1.7 billion in HIG stocks shares; and BLACKROCK INC., currently with $1.68 billion in HIG stock with ownership of nearly 2.376% of the company’s market capitalization.

Positions in The Hartford Financial Services Group Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 396 institutional holders increased their position in The Hartford Financial Services Group Inc. [NYSE:HIG] by around 16,568,718 shares. Additionally, 314 investors decreased positions by around 19,620,563 shares, while 132 investors held positions by with 253,812,993 shares. The mentioned changes placed institutional holdings at 290,002,274 shares, according to the latest SEC report filing. HIG stock had 116 new institutional investments in for a total of 1,865,149 shares, while 55 institutional investors sold positions of 1,238,155 shares during the same period.


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