The Hartford Financial Services Group (NYSE:HIG) Given New $129.00 Price Target at JPMorgan Chase & Co.

The Hartford Financial Services Group (NYSE:HIG) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $125.00 to $129.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.69% from the stock’s current price.

HIG has been the subject of a number of other research reports. Raymond James increased their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Royal Bank of Canada reiterated 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. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. 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. Finally, StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $123.29.

The Hartford Financial Services Group Stock Up 5.8 %

The Hartford Financial Services Group stock opened at $116.54 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group has a 12-month low of $94.47 and a 12-month high of $125.08. The firm’s fifty day moving average is $116.47 and its 200 day moving average is $115.35. The company has a market capitalization of $33.26 billion, a PE ratio of 11.26, a PEG ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 1,144 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock valued at $13,488,337 in the last three months. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of The Hartford Financial Services Group

Institutional investors and hedge funds have recently made changes to their positions in the business. McLean Asset Management Corp acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $227,000. Merit Financial Group LLC raised its stake in shares of The Hartford Financial Services Group by 17.5% during the 1st quarter. Merit Financial Group LLC now owns 8,317 shares of the insurance provider’s stock worth $1,029,000 after buying an additional 1,239 shares during the period. LVW Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 5.1% during the 1st quarter. LVW Advisors LLC now owns 4,878 shares of the insurance provider’s stock worth $604,000 after buying an additional 235 shares during the period. NBC Securities Inc. raised its stake in shares of The Hartford Financial Services Group by 97,963.6% during the 1st quarter. NBC Securities Inc. now owns 21,574 shares of the insurance provider’s stock worth $2,669,000 after buying an additional 21,552 shares during the period. Finally, Czech National Bank raised its stake in shares of The Hartford Financial Services Group by 5.1% during the 1st quarter. Czech National Bank now owns 66,057 shares of the insurance provider’s stock worth $8,173,000 after buying an additional 3,202 shares during the period. 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.