Saturday, June 25, 2022

A company insider recently sold 47,130 shares of The Hartford Financial Services Group Inc. [HIG]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. The Hartford Financial Services Group Inc. shares valued at $3,435,255 were sold by Swift Christopher on May 04. At $72.89 per share, Swift Christopher sold 47,130 shares. The insider’s holdings dropped to 172,129 shares worth approximately $11.23 million following the completion of this transaction.

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Also, Costello Beth Ann sold 47,214 shares, netting a total of over 3,455,262 in proceeds. Following the sale of shares at $73.18 each, the insider now holds 50,503 shares.

Before that, Robinson David C had sold 14,743 shares from its account. In a trade valued at $1,076,534, the EVP and General Counsel traded The Hartford Financial Services Group Inc. shares for $73.02 each. Upon closing the transaction, the insider’s holdings decreased to 14,743 shares, worth approximately $65.23.

As published in their initiating research note from Citigroup on May 24, 2022, The Hartford Financial Services Group Inc. [HIG] has been a Buy and the price target has been revised to $81. This represents a 19.47% premium over Wednesday’s closing price. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in late November. As of November 19, 2021, Jefferies has initiated its “Hold” rating for HIG.

Analyzing HIG’s Price Performance

On Wednesday, The Hartford Financial Services Group Inc. [NYSE: HIG] rose 0.25% to $65.23. The stock’s lowest price that day was $63.6542, but it reached a high of $66.08 in the same session. During the last five days, there has been a drop of approximately -2.06%. Over the course of the year, The Hartford Financial Services Group Inc. shares have dropped approximately -5.52%. Shares of the company reached a 52-week high of $76.00 on 04/21/22 and a 52-week low of $63.65 on 06/22/22. A 50-day SMA is recorded $70.46, while a 200-day SMA reached $70.48. Nevertheless, trading volume fell to 2.1 million shares from 1.51 million shares the previous day.

Support And Resistance Levels for The Hartford Financial Services Group Inc. (HIG)

According to the 24-hour chart, there is a support level at 63.90, which, if violated, would cause prices to drop to 62.56. In the upper region, resistance lies at 66.32. The next price resistance is at 67.41. RSI (Relative Strength Index) is 36.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.59, which suggests the price will decrease in the coming days. Percent R is at 84.06%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of The Hartford Financial Services Group Inc. (HIG)?

According to The Vanguard Group, Inc. filings, the company currently owns 38,456,583 shares, which is about 11.69% of the total HIG shares outstanding. The investor’s shares have appreciated by 73,719 from its previous 13-F filing of 38382864.0 shares. With the completion of the sale, T. Rowe Price Associates, Inc.’s stake is now worth $1,524,768,849. SSgA Funds Management, Inc. reduced a -2.49% interest valued at $1.44 billion while BlackRock Fund Advisors sold a -257,758 stake. A total of -448,560 shares of The Hartford Financial Services Group Inc. were sold by JPMorgan Investment Management, I during the quarter, and -109,778 were sold by Fidelity Management & Research Co. In its current portfolio, Franklin Mutual Advisers LLC holds 7,565,228 shares valued at $548.55 million.

In spite of this, 21 analysts ranked The Hartford Financial Services Group Inc. stock as an Overweight at the end of 2022. On August 17, 2021, Wolfe Research assigned a price target of “a Peer perform” to the stock and initiated coverage with a $74.

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