Hartford Financial Services Group (NYSE:HIG) had its target price lifted by UBS Group from $61.00 to $65.00 in a research note published on Wednesday, Stock Target Advisor reports. UBS Group currently has a buy rating on the insurance provider’s stock.
A number of other research firms also recently commented on HIG. ValuEngine downgraded Yara International ASA from a hold rating to a sell rating in a report on Wednesday, March 27th. Wells Fargo & Co reaffirmed a hold rating and set a $70.00 price target on shares of Church & Dwight in a research note on Thursday, May 2nd. B. Riley set a $20.00 price target on shares of AMC Entertainment and gave the company a buy rating in a report on Wednesday, June 26th. Zacks Investment Research cut shares of GreenTree Hospitality Group from a buy rating to a hold rating in a research note on Monday, May 20th. Finally, Goldman Sachs Group raised shares of Koninklijke KPN from a neutral rating to a buy rating in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Hartford Financial Services Group presently has a consensus rating of Buy and an average price target of $59.46.
Shares of HIG opened at $57.49 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $55.03. Hartford Financial Services Group has a twelve month low of $40.54 and a twelve month high of $57.54. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.18 and a beta of 0.68.
Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.15. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the prior year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts predict that Hartford Financial Services Group will post 5.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.30 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. Hartford Financial Services Group’s dividend payout ratio is presently 27.71%.
In other Hartford Financial Services Group news, EVP Martha Gervasi sold 3,672 shares of Hartford Financial Services Group stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $55.04, for a total transaction of $202,106.88. Following the completion of the transaction, the executive vice president now owns 18,882 shares in the company, valued at $1,039,265.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brion S. Johnson sold 32,094 shares of Hartford Financial Services Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $55.72, for a total transaction of $1,788,277.68. Following the transaction, the insider now owns 51,499 shares of the company’s stock, valued at approximately $2,869,524.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,326 shares of company stock worth $5,076,750. 1.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Welch & Forbes LLC increased its stake in shares of Hartford Financial Services Group by 68.0% during the 2nd quarter. Welch & Forbes LLC now owns 7,399 shares of the insurance provider’s stock valued at $412,000 after acquiring an additional 2,994 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Hartford Financial Services Group by 6.7% in the second quarter. Xact Kapitalforvaltning AB now owns 58,226 shares of the insurance provider’s stock worth $3,244,000 after acquiring an additional 3,634 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Hartford Financial Services Group in the second quarter valued at approximately $215,000. Retirement Systems of Alabama grew its holdings in Hartford Financial Services Group by 0.7% in the second quarter. Retirement Systems of Alabama now owns 168,582 shares of the insurance provider’s stock valued at $9,393,000 after purchasing an additional 1,197 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in Hartford Financial Services Group by 4.4% during the second quarter. Crossmark Global Holdings Inc. now owns 46,233 shares of the insurance provider’s stock worth $2,576,000 after purchasing an additional 1,951 shares during the last quarter. Institutional investors and hedge funds own 89.86% of the company’s stock.
Hartford Financial Services Group Company Profile
The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.
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