Brokerages Set The Hartford Financial Services Group, Inc. (NYSE:HIG) Target Price at $122.94

The Hartford Financial Services Group, Inc. (NYSE:HIG) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $122.94.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Piper Sandler upped their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company dropped their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $119.20 on Monday. The firm has a fifty day moving average price of $114.36 and a 200-day moving average price of $115.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $34.02 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group has a 1 year low of $94.47 and a 1 year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Equities analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HIG. 111 Capital purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $1,263,000. Wealth Enhancement Advisory Services LLC increased its position in The Hartford Financial Services Group by 37.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 101,634 shares of the insurance provider’s stock valued at $11,119,000 after purchasing an additional 27,464 shares during the period. NorthCrest Asset Manangement LLC increased its position in The Hartford Financial Services Group by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider’s stock valued at $1,453,000 after purchasing an additional 105 shares during the period. Siemens Fonds Invest GmbH increased its position in The Hartford Financial Services Group by 91.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 13,518 shares of the insurance provider’s stock valued at $1,479,000 after purchasing an additional 6,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $29,749,000. 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.