The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $109.00 by Analysts at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its target price lowered by Morgan Stanley from $110.00 to $109.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada raised their target price 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 note on Monday, February 5th. TD Cowen raised their target price 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. Raymond James reaffirmed an outperform rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Citigroup raised their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group increased their price objective on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a buy rating in a research report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $105.81.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $95.30 on Friday. The firm has a fifty day moving average price of $98.50 and a 200-day moving average price of $86.23. 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 stock has a market cap of $28.33 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. The Hartford Financial Services Group has a 1 year low of $67.05 and a 1 year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a return on equity of 21.04% and a net margin of 10.87%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. Equities analysts anticipate that The Hartford Financial Services Group will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 sale, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock valued at $10,141,126 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of HIG. GoalVest Advisory LLC lifted its stake in The Hartford Financial Services Group by 464.8% during the 4th 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 period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $26,000. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $27,000. Chilton Capital Management LLC acquired a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $28,000. Finally, Selway Asset Management acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $29,000. 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.