The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $95.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective boosted by Roth Mkm from $90.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. Roth Mkm currently has a neutral rating on the insurance provider’s stock.

HIG has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a report on Monday, April 8th. UBS Group upped their price target on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a buy rating in a research report on Monday, February 5th. TD Cowen boosted their price objective on The Hartford Financial Services Group to $144.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Piper Sandler reaffirmed an overweight rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Finally, Wells Fargo & Company boosted their price target on The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $105.44.

The Hartford Financial Services Group Price Performance

HIG stock opened at $97.07 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Financial Services Group has a 52-week low of $67.05 and a 52-week high of $103.64. The company has a market capitalization of $28.71 billion, a P/E ratio of 11.03, a PEG ratio of 1.35 and a beta of 0.89. The company has a fifty day moving average price of $98.58 and a 200-day moving average price of $86.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 earnings per share. As a group, equities analysts expect that The Hartford Financial Services Group will post 10.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.94%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP David C. Robinson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the completion of the sale, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at approximately $735,137.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Hartford Financial Services Group news, EVP David C. Robinson sold 15,000 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the transaction, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at approximately $735,137.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,501 shares of company stock valued at $10,141,126. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of HIG. Invesco Ltd. boosted its position in The Hartford Financial Services Group by 1.3% in the third quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock worth $526,242,000 after purchasing an additional 91,911 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of The Hartford Financial Services Group by 26.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after buying an additional 1,272,290 shares during the last quarter. Victory Capital Management Inc. grew its position in The Hartford Financial Services Group by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after buying an additional 105,799 shares during the period. LSV Asset Management increased its holdings in The Hartford Financial Services Group by 3.5% during the fourth quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock worth $387,583,000 after buying an additional 165,190 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in The Hartford Financial Services Group by 2.5% in the third quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock valued at $248,646,000 after acquiring an additional 87,001 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.