Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Hartford Financial Services Group Inc. shares valued at $2,670,703 were sold by FISHER MICHAEL R on Mar 13 ’24. At $98.90 per share, FISHER MICHAEL R sold 27,004 shares. The insider’s holdings dropped to 18,906 shares worth approximately $1.88 million following the completion of this transaction.
Also, Niderno Allison G sold 1,516 shares, netting a total of over 143,333 in proceeds. Following the sale of shares at $94.55 each, the insider now holds 630 shares.
Before that, FISHER MICHAEL R had sold 4,088 shares from its account. In a trade valued at $388,605, the EVP traded Hartford Financial Services Group Inc. shares for $95.06 each. Upon closing the transaction, the insider’s holdings decreased to 4,088 shares, worth approximately $1.0 million.
As published in their initiating research note from TD Cowen on January 10, 2024, Hartford Financial Services Group Inc. [HIG] has been an Outperform and the price target has been revised to $132. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of November 16, 2023, Oppenheimer has initiated its “Perform” rating for HIG. Earlier on October 05, 2023, Deutsche Bank initiated its rating. Their recommendation was “a Hold” for HIG stock.
Analyzing HIG Stock Performance
During the last five days, there has been a drop of approximately -2.75%. Over the course of the year, Hartford Financial Services Group Inc. shares have jumped approximately 23.55%. Shares of the company reached a 52-week high of $103.64 on 04/08/24 and a 52-week low of $80.63 on 01/02/24. A 50-day SMA is recorded $96.28, while a 200-day SMA reached $80.38. Nevertheless, trading volume fell to 2.01 million shares from 2.19 million shares the previous day.
Support And Resistance Levels for Hartford Financial Services Group Inc. (HIG)
According to the 24-hour chart, there is a support level at 98.61, which, if violated, would cause prices to drop to 97.90. In the upper region, resistance lies at 99.81. The next price resistance is at 100.30. RSI (Relative Strength Index) is 49.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.12, which suggests the price will decrease in the coming days. Percent R is at 82.65%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Hartford Financial Services Group Inc. subject to short interest?
Stocks of Hartford Financial Services Group Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.59 million shares to 4.2 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.61 million shares. A jump of 14.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.11 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.11.
