Citigroup Raises The Hartford Financial Services Group (NYSE:HIG) Price Target to $113.00

The Hartford Financial Services Group (NYSE:HIG) had its target price increased by Citigroup from $109.00 to $113.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other research firms also recently commented on HIG. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a research report on Monday, April 8th. 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 report on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a buy rating in a research note on Friday, April 12th. Wells Fargo & Company upped 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, April 11th. Finally, Piper Sandler reiterated an overweight rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $105.56.

The Hartford Financial Services Group Stock Up 2.1 %

The Hartford Financial Services Group stock opened at $98.95 on Tuesday. The company has a market capitalization of $29.42 billion, a PE ratio of 12.38, a PEG ratio of 1.35 and a beta of 0.89. The Hartford Financial Services Group has a 12-month low of $67.05 and a 12-month high of $103.64. The firm’s fifty day moving average is $97.80 and its 200 day moving average is $85.25. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29.

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 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 firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The business’s quarterly 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 10.13 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.90%. The Hartford Financial Services Group’s payout ratio is presently 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 956 shares of The Hartford Financial Services Group 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 directly owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Swift sold 956 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the sale, the chief executive officer now owns 170,180 shares of the company’s stock, valued at $14,635,480. The disclosure for this sale can be found here. Insiders have sold 202,264 shares of company stock valued at $18,438,369 in the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GoalVest Advisory LLC raised its stake in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth about $26,000. CVA Family Office LLC bought a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group in the fourth quarter worth about $28,000. Finally, Selway Asset Management bought a new stake in The Hartford Financial Services Group during the 3rd quarter valued at approximately $29,000. 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.