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 $166,372 were sold by Lewis Scott R. on Aug 09. At $65.04 per share, Lewis Scott R. sold 2,558 shares. The insider’s holdings dropped to 18,396 shares worth approximately $1.15 million following the completion of this transaction.
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Also, Swift Christopher sold 47,130 shares, netting a total of over 3,435,255 in proceeds. Following the sale of shares at $72.89 each, the insider now holds 172,129 shares.
Before that, Costello Beth Ann had sold 47,214 shares from its account. In a trade valued at $3,455,262, the EVP and CFO traded The Hartford Financial Services Group Inc. shares for $73.18 each. Upon closing the transaction, the insider’s holdings decreased to 47,214 shares, worth approximately $3.15 million.
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 22.98% premium over Thursday’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 Thursday, The Hartford Financial Services Group Inc. [NYSE: HIG] plunged -1.08% to $62.39. The stock’s lowest price that day was $61.94, but it reached a high of $63.08 in the same session. During the last five days, there has been a drop of approximately -5.04%. Over the course of the year, The Hartford Financial Services Group Inc. shares have dropped approximately -9.63%. Shares of the company reached a 52-week high of $76.00 on 04/21/22 and a 52-week low of $61.59 on 07/18/22. A 50-day SMA is recorded $65.40, while a 200-day SMA reached $68.70. Nevertheless, trading volume fell to 1.58 million shares from 1.43 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 61.86, which, if violated, would cause prices to drop to 61.33. In the upper region, resistance lies at 63.00. The next price resistance is at 63.61. RSI (Relative Strength Index) is 33.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.97, which suggests the price will decrease in the coming days. Percent R is at 92.74%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is The Hartford Financial Services Group Inc. subject to short interest?
Stocks of The Hartford Financial Services Group Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.25 million shares to 2.63 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.38 million shares. A jump of 9.51% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.42.
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 38,660,073 shares, which is about 11.96% of the total HIG shares outstanding. The investor’s shares have appreciated by 203,490 from its previous 13-F filing of 38456583.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $1,188,889,259. T. Rowe Price Associates, Inc. reduced a -15.58% interest valued at $1.14 billion while JPMorgan Investment Management, I purchased a 1,225,646 stake. A total of -961,632 shares of The Hartford Financial Services Group Inc. were bought by BlackRock Fund Advisors during the quarter, and -726,208 were sold by Fidelity Management & Research Co. In its current portfolio, Geode Capital Management LLC holds 6,400,262 shares valued at $411.6 million.
In terms of The Hartford Financial Services Group Inc. share price expectations, FactSet research, analysts set an average price target of $81.83 in the next 12 months, up nearly 30.01% from the previous closing price of $63.07. Analysts anticipate The Hartford Financial Services Group Inc. stock to reach $104.00 by 2022, with the lowest price target being $70.00. 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.