JP Morgan took its The Hartford Financial Services Group Inc. [NYSE:HIG] rating to the equivalent of Overweight from Neutral, and the price target to $55 from $52, in a research note dated January 4, 2021. That figure represents around a 12.27% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with Barclays’s analysts assigning the shares to “an Overweight” rating in a research note to investors issued in mid November. In addition, there was an upgrade from Morgan Stanley on April 14, 2020. The rater changed HIG from “an Equal-weight” to “an Overweight”.
Is The Hartford Financial Services Group Inc. [NYSE:HIG] a Good Buy Right Now?
It should be noted that HIG technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from The Hartford Financial Services Group Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 2.26 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.48 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.36 million shares.
HIG Price Performance
On Wall Street, The Hartford Financial Services Group Inc. [NYSE:HIG] finished Thursday’s session up 2.17% at $48.98. The stock went up to $49.055 at the same session while its lowest single day price was $47.6601. In the last five days, it saw a rise of about 1.47%, The Hartford Financial Services Group Inc. shares dropped by almost -19.40% since the beginning of the year. However, the share price has dropped to as low as -20.12% below its one year high. On 01/21/20, the company shares recorded $61.32, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/18/20, the same year at $19.04. The company’s shares have declined by -19.64% in the past year. The 50-day SMA achieved is $44.56 while the 200-day SMA is $40.09. Volume gained to 1.78 million from 1.35 million in the previous session.
The Hartford Financial Services Group Inc. [HIG] Valuation Measures
Notably, The Hartford Financial Services Group Inc. [HIG] stock can be classified as a good candidate in the listing of underestimated low-priced Insurance – Diversified companies to purchase soonest possible with the prevailing 12-month PE ratio of 10.25. The measure means the stock is exchanging at a discount as compared to the 13.17x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.84 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 1.07 which means HIG serve an attractive investment opportunity compared to its competitors.
HIG Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 48.08 level, and in case of violation of this particular level, it will cause more drop to 47.17 level. On the upper level, 49.96 is still the key resistance. The stock may increase to the subsequent resistance at 49.47. The Relative Strength Index (RSI) pinned on the 14-day chart is 64.71, implying a neutral technical stance while the MACD stands at 0.81, meaning price will decrease in the next trading period. Percent R indicator moved to 1.83%, implying bullish price movement. Stochastic %K at 80.88% suggest selling the stock.
What is the short interest in The Hartford Financial Services Group Inc.?
Short interest in the The Hartford Financial Services Group Inc. stock has plunged, decreasing by -0.28 million shares to total 4.72 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.44 million, data from Yahoo Finance shows. The increase of 5.93% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.49% of the overall float for the stock.
The Hartford Financial Services Group Inc.’s Biggest Shareholders: Who Owns The Hartford Financial Services Group Inc. [HIG]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 37,782,676 shares or roughly 10.54% of the outstanding HIG shares. This means their shares have reduced by -1,292,507 from the 37,782,676 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, SSgA Funds Management, Inc. updated stake is worth $885,443,528. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 0.13% stake valued at $876,761,145 while JPMorgan Investment Management, I added theirs at $724,064,554. During the last quarter, BlackRock Fund Advisors raised 26,027 of its shares in The Hartford Financial Services Group Inc. while JPMorgan Investment Management, I bought 370,449 shares. The Franklin Mutual Advisers LLC’s holdings currently number 14,195,677 shares at $695304259.46. According to the firm’s last 13F report, Invesco Advisers, Inc. shares in the company at filing stood at 11,623,230 shares, roughly $513,746,766.
HIG Earnings Forecast For The Current Quarter
The Hartford Financial Services Group Inc. [HIG] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $5.13B and an earnings per share of $1.31 for Dec 2020. Looking further ahead, the company is expected to report revenue of $5.18B at an EPS of $1.37 for Mar 2021. The estimates represent downside of 2.60% and 1.93% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
HIG Earnings Estimates For The Current Year
For the financial year, The Hartford Financial Services Group Inc. [NYSE:HIG] is expected to bring in revenue of $20.28B. The returns are nearly $-460.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 5.34, lower than that of FY19 by -$0.31. Estimates put this year’s earnings growth at -5.50%, 2.10% for the next, and at an annual -0.45% over the next 5-year period. As for sales, forecasts are for a decrease of -2.20% in the current fiscal year and a further 2.60% over the following year.