The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $111.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective dropped by investment analysts at Wells Fargo & Company from $117.00 to $111.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 14.56% from the stock’s current price.

HIG has been the topic of a number of other reports. Piper Sandler reissued an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Evercore ISI lifted their target price 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. Royal Bank of Canada upped their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, February 5th. UBS Group lifted their price objective on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $105.44.

The Hartford Financial Services Group Stock Down 0.2 %

NYSE HIG opened at $96.89 on Monday. The Hartford Financial Services Group has a 52 week low of $67.05 and a 52 week high of $103.64. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $28.66 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The stock’s 50-day moving average price is $98.65 and its 200-day moving average price is $86.82.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 earnings per share. On average, equities research analysts predict that The Hartford Financial Services Group will post 10.11 earnings per share for the current year.

Insider Activity

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now owns 630 shares in the company, valued at approximately $56,536.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,501 shares of company stock valued at $10,141,126. 1.60% of the stock is currently owned by insiders.

Institutional Trading of The Hartford Financial Services Group

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $278,704,000. Hotchkis & Wiley Capital Management LLC grew its stake in The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after purchasing an additional 1,272,290 shares in the last quarter. Victory Capital Management Inc. increased its holdings in The Hartford Financial Services Group by 26.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock worth $364,631,000 after purchasing an additional 1,083,420 shares during the period. Qube Research & Technologies Ltd raised its position in The Hartford Financial Services Group by 144.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock valued at $65,665,000 after purchasing an additional 546,969 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of The Hartford Financial Services Group by 20.2% in the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after buying an additional 497,916 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Company Profile

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.