Hartford Financial Services Group (NYSE:HIG) PT Raised to $63.00

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Hartford Financial Services Group (NYSE:HIG) had its target price raised by investment analysts at Morgan Stanley from $61.00 to $63.00 in a research note issued on Friday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target indicates a potential upside of 3.13% from the stock’s previous close.

HIG has been the subject of a number of other reports. Wells Fargo & Co reaffirmed a “hold” rating and issued a $58.00 target price on shares of Hartford Financial Services Group in a research note on Monday, November 4th. Buckingham Research boosted their target price on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. ValuEngine raised shares of Hartford Financial Services Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 5th. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Thursday. Finally, MKM Partners boosted their target price on shares of Hartford Financial Services Group to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.92.

Shares of NYSE HIG traded up $0.09 during trading on Friday, reaching $61.09. The company had a trading volume of 2,090,048 shares, compared to its average volume of 2,033,708. Hartford Financial Services Group has a 52 week low of $40.54 and a 52 week high of $61.63. The stock has a market cap of $21.84 billion, a PE ratio of 14.11, a PEG ratio of 1.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.29. The business’s 50 day moving average price is $58.92 and its 200-day moving average price is $56.76.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that Hartford Financial Services Group will post 5.47 earnings per share for the current year.

In related news, CEO Christopher Swift sold 24,279 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $60.32, for a total transaction of $1,464,509.28. Following the completion of the sale, the chief executive officer now directly owns 211,218 shares of the company’s stock, valued at $12,740,669.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William A. Bloom sold 7,926 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $60.71, for a total transaction of $481,187.46. Following the sale, the executive vice president now directly owns 26,211 shares of the company’s stock, valued at $1,591,269.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,837 shares of company stock valued at $4,273,875. 1.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of HIG. Nuveen Asset Management LLC raised its stake in shares of Hartford Financial Services Group by 4,218.0% during the second quarter. Nuveen Asset Management LLC now owns 5,383,344 shares of the insurance provider’s stock worth $299,960,000 after buying an additional 5,258,671 shares during the last quarter. BlackRock Inc. raised its stake in shares of Hartford Financial Services Group by 8.1% during the second quarter. BlackRock Inc. now owns 30,044,477 shares of the insurance provider’s stock worth $1,674,077,000 after buying an additional 2,257,147 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Hartford Financial Services Group by 1,515.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,760,081 shares of the insurance provider’s stock worth $98,069,000 after buying an additional 1,651,139 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hartford Financial Services Group by 15.5% during the second quarter. Bank of New York Mellon Corp now owns 5,644,890 shares of the insurance provider’s stock worth $314,533,000 after buying an additional 758,207 shares during the last quarter. Finally, Banco Santander S.A. bought a new stake in shares of Hartford Financial Services Group during the second quarter worth approximately $27,742,000. 91.62% of the stock is owned by institutional investors and hedge funds.

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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