Time to Buy Hartford Financial Services Group Inc After Today’s Option Traders Bet?

 Time to Buy Hartford Financial Services Group Inc After Today's Option Traders Bet?

In today’s session Hartford Financial Services Group Inc (HIG) registered an unusually high (3,898) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious HIG increase. With 3,898 contracts traded and 18354 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: HIG161021C00042000 closed last at: $1.33 or 20.9% up. About 1.49M shares traded hands. Hartford Financial Services Group Inc (NYSE:HIG) has declined 2.50% since March 1, 2016 and is downtrending. It has underperformed by 11.74% the S&P500.

Analysts await Hartford Financial Services Group Inc (NYSE:HIG) to report earnings on October, 24. They expect $0.95 earnings per share, up 10.47% or $0.09 from last year’s $0.86 per share. HIG’s profit will be $363.91 million for 11.38 P/E if the $0.95 EPS becomes a reality. After $0.31 actual earnings per share reported by Hartford Financial Services Group Inc for the previous quarter, Wall Street now forecasts 206.45% EPS growth.

Hartford Financial Services Group Inc (NYSE:HIG) Ratings Coverage

Out of 9 analysts covering Hartford Financial (NYSE:HIG), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. $55 is the highest target while $40 is the lowest. The $49.88 average target is 15.46% above today’s ($43.2) stock price. Hartford Financial has been the topic of 17 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Thursday, August 11, the company rating was maintained by Mizuho. The stock of Hartford Financial Services Group Inc (NYSE:HIG) has “Sector Perform” rating given on Tuesday, October 27 by RBC Capital Markets. UBS maintained Hartford Financial Services Group Inc (NYSE:HIG) rating on Wednesday, August 19. UBS has “Buy” rating and $55 price target. The rating was initiated by Nomura on Tuesday, January 19 with “Neutral”. Wells Fargo downgraded Hartford Financial Services Group Inc (NYSE:HIG) on Tuesday, May 17 to “Market Perform” rating. Atlantic Securities downgraded the stock to “Neutral” rating in Wednesday, August 10 report. The rating was downgraded by Atlantic Securities on Wednesday, October 28 to “Neutral”. FBR Capital maintained the stock with “Outperform” rating in Monday, August 3 report. The stock of Hartford Financial Services Group Inc (NYSE:HIG) has “Overweight” rating given on Tuesday, January 26 by Atlantic Securities. The firm has “Hold” rating by Zacks given on Thursday, August 20.

Insitutional Activity: The institutional sentiment increased to 0.77 in Q2 2016. Its up 0.03, from 0.74 in 2016Q1. The ratio increased, as 51 funds sold all Hartford Financial Services Group Inc shares owned while 228 reduced positions. 57 funds bought stakes while 159 increased positions. They now own 340.13 million shares or 4.98% less from 357.97 million shares in 2016Q1.
Hudock Capital Group Ltd Liability Corp, a Pennsylvania-based fund reported 841 shares. Counsel Port Svcs Inc has invested 1.14% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG). Paradigm Asset Ltd Llc reported 4,550 shares or 0% of all its holdings. Raymond James Tru Na last reported 0.03% of its portfolio in the stock. Gyroscope Management Group Limited Liability Company has 14,031 shares for 0.51% of their US portfolio. Hartford Invest holds 0.05% or 49,335 shares in its portfolio. Whittier Com Of Nevada holds 0.01% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG) for 1,740 shares. State Of Wisconsin Investment Board owns 896,868 shares or 0.16% of their US portfolio. Fdx Advsrs holds 0.02% or 9,028 shares in its portfolio. Hall Laurie J Trustee last reported 1,300 shares in the company. Assetmark last reported 405 shares in the company. Prudential Inc has 0.09% invested in the company for 1.25 million shares. Amp Capital Invsts Limited last reported 0.09% of its portfolio in the stock. Hsbc Pcl owns 275,056 shares or 0.03% of their US portfolio. Advantus Cap has invested 0.05% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG).

Insider Transactions: Since June 6, 2016, the stock had 1 insider purchase, and 1 insider sale for $214,900 net activity. 7,500 shares were sold by SWYGERT H PATRICK, worth $302,588. RENYI THOMAS A bought 1,965 shares worth $87,688.

The Hartford Financial Services Group, Inc. is a holding company. The company has a market cap of $16.55 billion. The Firm operates through six divisions: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds and Talcott Resolution. It has a 13.38 P/E ratio. Commercial Lines segment provides workers’ compensation, property, automobile, liability, umbrella, marine and livestock coverages to businesses, throughout the United States.

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