Hartford Financial Services Group (NYSE:HIG) had its price objective increased by Morgan Stanley from $53.00 to $58.00 in a research report released on Friday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the insurance provider’s stock.
A number of other equities research analysts have also recently weighed in on HIG. B. Riley set a $20.00 price objective on shares of AMC Entertainment and gave the company a buy rating in a research note on Wednesday, June 26th. ValuEngine lowered Yara International ASA from a hold rating to a sell rating in a report on Wednesday, March 27th. UBS Group lifted their target price on Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Barclays set a $34.00 target price on DCP Midstream and gave the stock a hold rating in a report on Wednesday, May 22nd. Finally, Wells Fargo & Co reaffirmed a hold rating and set a $70.00 target price on shares of Church & Dwight in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $60.31.
Shares of NYSE HIG opened at $57.04 on Friday. Hartford Financial Services Group has a fifty-two week low of $40.54 and a fifty-two week high of $58.22. The company’s 50-day moving average is $55.94. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $20.65 billion, a PE ratio of 13.17, a P/E/G ratio of 1.19 and a beta of 0.68.
Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.15. Hartford Financial Services Group had a net margin of 9.58% and a return on equity of 12.46%. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Analysts expect that Hartford Financial Services Group will post 5.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.30 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. Hartford Financial Services Group’s dividend payout ratio is currently 27.71%.
In related news, Director Trevor Fetter purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average price of $52.19 per share, with a total value of $521,900.00. Following the purchase, the director now owns 50,945 shares of the company’s stock, valued at approximately $2,658,819.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martha Gervasi sold 5,039 shares of Hartford Financial Services Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $52.87, for a total value of $266,411.93. Following the completion of the transaction, the insider now directly owns 15,210 shares in the company, valued at approximately $804,152.70. The disclosure for this sale can be found here. Insiders sold a total of 95,998 shares of company stock worth $5,289,543 in the last three months. 1.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its stake in Hartford Financial Services Group by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the insurance provider’s stock valued at $945,000 after acquiring an additional 200 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Hartford Financial Services Group by 11.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,140 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 224 shares in the last quarter. Moors & Cabot Inc. grew its stake in Hartford Financial Services Group by 1.6% during the 2nd quarter. Moors & Cabot Inc. now owns 14,247 shares of the insurance provider’s stock valued at $798,000 after acquiring an additional 225 shares in the last quarter. Palladium Partners LLC grew its stake in Hartford Financial Services Group by 1.3% during the 1st quarter. Palladium Partners LLC now owns 19,128 shares of the insurance provider’s stock valued at $951,000 after acquiring an additional 250 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Hartford Financial Services Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 84,776 shares of the insurance provider’s stock valued at $4,215,000 after acquiring an additional 295 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.
Hartford Financial Services Group Company Profile
The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.
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