Home Analyst Ratings The Hartford Financial Services Group Inc. gets an upgrade to an...

The Hartford Financial Services Group Inc. [HIG] gets an upgrade to an Overweight from JP Morgan

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”.

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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.‎‎


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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.‎‎

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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.‎

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