The stock price of Hartford Financial Services Group Inc. (NYSE: HIG) has surged by 0.23 when compared to previous closing price of 100.67, but the company has seen a 0.50% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-21 that Better pricing, product redesigns, technological advancement and an improvement in the rate environment are expected to aid multiline insurers like MET, AIG, PRU, HIG and AIZ.
Is It Worth Investing in Hartford Financial Services Group Inc. (NYSE: HIG) Right Now?
Hartford Financial Services Group Inc. (NYSE: HIG) has a price-to-earnings ratio of 12.63x that is above its average ratio. Additionally, the 36-month beta value for HIG is 0.88. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 1 rating it as “overweight,” 11 rating it as “hold,” and 0 rating it as “sell.”
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The public float for HIG is 295.89M and currently, short sellers hold a 1.22% ratio of that float. The average trading volume of HIG on March 27, 2024 was 1.77M shares.
HIG’s Market Performance
HIG stock saw an increase of 0.50% in the past week, with a monthly gain of 5.79% and a quarterly increase of 26.81%. The volatility ratio for the week is 1.12%, and the volatility levels for the last 30 days are 1.25% for Hartford Financial Services Group Inc. (HIG). The simple moving average for the last 20 days is 2.92% for HIG stock, with a simple moving average of 28.22% for the last 200 days.
Analysts’ Opinion of HIG
Many brokerage firms have already submitted their reports for HIG stocks, with TD Cowen repeating the rating for HIG by listing it as a “Outperform.” The predicted price for HIG in the upcoming period, according to TD Cowen is $132 based on the research report published on January 10, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see HIG reach a price target of $91, previously predicting the price at $94. The rating they have provided for HIG stocks is “Neutral” according to the report published on January 08th, 2024.
HIG Trading at 8.99% from the 50-Day Moving Average
After a stumble in the market that brought HIG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.46% of loss for the given period.
Volatility was left at 1.25%, however, over the last 30 days, the volatility rate increased by 1.12%, as shares surge +5.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.81% upper at present.
During the last 5 trading sessions, HIG rose by +0.50%, which changed the moving average for the period of 200-days by +42.11% in comparison to the 20-day moving average, which settled at $98.30. In addition, Hartford Financial Services Group Inc. saw 25.53% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HIG starting from FISHER MICHAEL R, who sale 27,004 shares at the price of $98.90 back on Mar 13 ’24. After this action, FISHER MICHAEL R now owns 18,906 shares of Hartford Financial Services Group Inc., valued at $2,670,703 using the latest closing price.
Niderno Allison G, the SVP & Controller of Hartford Financial Services Group Inc., sale 1,516 shares at $94.55 during a trade that took place back on Mar 04 ’24, which means that Niderno Allison G is holding 630 shares at $143,333 based on the most recent closing price.
Stock Fundamentals for HIG
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.85 for the gross margin
The net margin for Hartford Financial Services Group Inc. stands at 0.1. The total capital return value is set at 0.09. Equity return is now at value 17.29, with 3.67 for asset returns.
Based on Hartford Financial Services Group Inc. (HIG), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at 0.97. The debt to equity ratio resting at 0.28. The interest coverage ratio of the stock is 16.03.
Currently, EBITDA for the company is -234.0 million with net debt to EBITDA at 1.85. When we switch over and look at the enterprise to sales, we see a ratio of 1.4. The receivables turnover for the company is 1.93for trailing twelve months and the total asset turnover is 0.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.33.
Conclusion
In conclusion, Hartford Financial Services Group Inc. (HIG) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
