The Hartford Financial Services Group (NYSE:HIG) Given New $110.00 Price Target at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its target price boosted by Morgan Stanley from $94.00 to $110.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

HIG has been the topic of several other reports. Raymond James reaffirmed an outperform rating and issued a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Evercore ISI raised their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an in-line rating in a research note on Thursday, April 11th. Piper Sandler reaffirmed 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. UBS Group raised their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a buy rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $103.82.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $97.31 on Monday. The stock has a fifty day moving average price of $97.21 and a 200-day moving average price of $84.71. The company has a market cap of $28.93 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.38 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group has a fifty-two week low of $67.05 and a fifty-two week high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. As a group, equities analysts anticipate that The Hartford Financial Services Group will post 10.12 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the transaction, the senior vice president now directly owns 630 shares of the company’s stock, valued at $56,536.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The disclosure for this sale can be found here. Insiders have sold a total of 253,715 shares of company stock valued at $22,789,138 over the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in HIG. GoalVest Advisory LLC increased its holdings in The Hartford Financial Services Group by 464.8% in the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $28,000. Finally, Selway Asset Management bought a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $29,000. 93.42% of the stock is currently owned by institutional investors.

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.