The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $104.00 at Evercore ISI

The Hartford Financial Services Group (NYSE:HIG) had its price objective upped by Evercore ISI from $96.00 to $104.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an in-line rating on the insurance provider’s stock.

Other analysts have also recently issued research reports about the stock. TD Cowen upped their price objective on shares of 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 price objective on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research note on Wednesday. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company increased their price target on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an overweight rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $101.75.

The Hartford Financial Services Group Stock Down 2.0 %

Shares of NYSE HIG opened at $97.34 on Thursday. The Hartford Financial Services Group has a 12-month low of $67.01 and a 12-month high of $103.64. The stock has a market cap of $28.94 billion, a PE ratio of 12.18, a P/E/G ratio of 1.41 and a beta of 0.89. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $96.92 and a 200 day moving average of $84.18.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The Hartford Financial Services Group’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Financial Services Group will post 10.05 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.93%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,715 shares of company stock worth $22,789,138. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in HIG. Cambridge Investment Research Advisors Inc. lifted its holdings in The Hartford Financial Services Group by 7.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock worth $1,271,000 after buying an additional 1,185 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in The Hartford Financial Services Group by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock worth $284,000 after buying an additional 330 shares in the last quarter. Prudential PLC acquired a new stake in The Hartford Financial Services Group during the 1st quarter worth approximately $674,000. Cetera Investment Advisers lifted its holdings in The Hartford Financial Services Group by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock worth $807,000 after buying an additional 5,278 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in The Hartford Financial Services Group by 235.4% during the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock worth $77,000 after buying an additional 751 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.