Hartford (HIG) Offering Possible 20.48% Return Over the Next 17 Calendar Days

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Hartford’s most recent trend suggests a bullish bias. One trading opportunity on Hartford is a Bull Put Spread using a strike $67.00 short put and a strike $62.00 long put offers a potential 20.48% return on risk over the next 17 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $67.00 by expiration. The full premium credit of $0.85 would be kept by the premium seller. The risk of $4.15 would be incurred if the stock dropped below the $62.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Hartford is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Hartford is bullish.

The RSI indicator is above 80 which suggests that the stock is in overbought territory.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Hartford

Insurance veteran Evan Greenberg eyes his next prize
Fri, 26 Mar 2021 00:00:00 +0000
Evan Greenberg does not mind putting his head above the parapet. At the height of the first Covid-19 wave last April, the chief executive of New York-listed insurer Chubb took to the opinion pages of the Wall Street Journal to warn against the risks of “unchecked litigation for any injury linked to the coronavirus”. Forcing insurers to cover pandemic-related losses that were not written into contracts, he added, “would bankrupt the insurance industry to prop up other parts of the economy”.

Hartford Financial rejects Chubb’s hostile buyout bid, stock falls
Tue, 23 Mar 2021 12:43:00 +0000
Shares of Hartford Financial Services Group Inc. dropped 1.1% in premarket trading Tuesday, after the property and casualty insurer said it has rejected Chubb Ltd.’s unsolicited buyout bid. Chubb’s stock rose 1.3% ahead of the open. Hartford’s stock had soared 18.7% to a 13-year high on March 18 after the company said it received a bid from Chubb that valued Hartford’s stock at $65 each, which would imply a $23.24 billion market capitalization for Hartford. On Tuesday, Hartford said entering into a discussion with Chubb regarding a merger “would not be in the best interest of the company and its shareholders.” Hartford’s has rallied 119.1% over the past 12 months through Monday and Chubb shares have run up 66.7%, while the SPDR S&P Insurance ETF has hiked up 75.8% and the S&P 500 has gained 76.1%.

The Hartford Board Of Directors Unanimously Rejects Unsolicited Proposal From Chubb
Tue, 23 Mar 2021 12:30:00 +0000
The Hartford (NYSE: HIG) today announced that its board of directors, after consultation with its financial and legal advisors, has unanimously rejected Chubb Limited’s March 11, 2021, unsolicited proposal to acquire The Hartford and determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders. The board reaffirmed its commitment and resolve in the continued execution of The Hartford’s strategic business plan.

Hartford Retreats After Board Rejects Chubb’s Unsolicited Offer
Tue, 23 Mar 2021 11:40:16 +0000
By Dhirendra Tripathi

Hartford Rejects Chubb’s $23 Billion Takeover Bid
Tue, 23 Mar 2021 10:03:00 +0000
Hartford Financial Services fell Tuesday after the insurer rejected a $23 billion buyout bid from Chubb . Hartford said its board of directors unanimously rejected Chubb’s unsolicited proposal of $65 a share from March 11. “Hartford determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders,” Hartford said.

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