The Hartford Financial Services Group (NYSE:HIG) PT Raised to $105.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective raised by The Goldman Sachs Group from $92.00 to $105.00 in a research note published on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the insurance provider’s stock.

Several other equities analysts have also issued reports on the stock. Raymond James reiterated an outperform rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Piper Sandler reiterated an overweight rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Roth Mkm lifted their target price on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a neutral rating in a report on Friday, February 2nd. Evercore ISI lifted their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an in-line rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada raised their price target on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a sector perform rating in a research report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $103.82.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $97.31 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a one year low of $67.05 and a one year high of $103.64. The company has a 50-day simple moving average of $97.21 and a two-hundred day simple moving average of $84.71. The firm has a market capitalization of $28.93 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping 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 business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the business posted $2.31 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that The Hartford Financial Services Group will post 10.12 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 23.53%.

Insider Activity

In other news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Robert W. Paiano sold 14,528 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the sale, the executive vice president now owns 46,792 shares of the company’s stock, valued at approximately $4,397,044.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The disclosure for this sale can be found here. Insiders sold a total of 253,715 shares of company stock valued at $22,789,138 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MV Capital Management Inc. lifted its stake in shares of The Hartford Financial Services Group by 8.9% during the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock valued at $114,000 after buying an additional 116 shares in the last quarter. Realta Investment Advisors lifted its stake in shares of The Hartford Financial Services Group by 3.7% during the 4th quarter. Realta Investment Advisors now owns 3,635 shares of the insurance provider’s stock valued at $292,000 after buying an additional 129 shares in the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of The Hartford Financial Services Group by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 25,528 shares of the insurance provider’s stock valued at $2,630,000 after buying an additional 131 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of The Hartford Financial Services Group by 8.4% during the 4th quarter. Penserra Capital Management LLC now owns 1,715 shares of the insurance provider’s stock valued at $129,000 after buying an additional 133 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of The Hartford Financial Services Group by 2.4% during the 3rd quarter. Proficio Capital Partners LLC now owns 5,857 shares of the insurance provider’s stock valued at $415,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Company Profile

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.