The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $113.00

The Hartford Financial Services Group (NYSE:HIG) had its target price upped by Citigroup from $109.00 to $113.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other brokerages have also commented on HIG. Royal Bank of Canada lifted their price objective on The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a sector perform rating in a report on Monday, February 5th. Roth Mkm boosted their price target on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a neutral rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a neutral rating in a report on Monday, April 8th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $105.56.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $96.95 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a one year low of $67.05 and a one year high of $103.64. The firm has a market capitalization of $28.82 billion, a P/E ratio of 12.13, a PEG ratio of 1.38 and a beta of 0.89. The business has a fifty day moving average of $97.64 and a 200 day moving average of $85.06.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The Hartford Financial Services Group’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hartford Financial Services Group will post 10.13 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.94%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly 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 through this link. In related news, SVP Allison G. Niderno sold 1,516 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $94.55, for a total value of $143,337.80. Following the sale, the senior vice president now directly owns 630 shares in the company, valued at $59,566.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,264 shares of company stock worth $18,438,369. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIG. Norges Bank purchased a new stake in The Hartford Financial Services Group during the fourth quarter valued at approximately $277,618,000. Moneta Group Investment Advisors LLC purchased a new stake in The Hartford Financial Services Group during the fourth quarter valued at approximately $215,742,000. Hotchkis & Wiley Capital Management LLC raised its position in The Hartford Financial Services Group by 26.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the period. Victory Capital Management Inc. raised its position in The Hartford Financial Services Group by 26.7% during the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock valued at $364,631,000 after purchasing an additional 1,083,420 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its position in The Hartford Financial Services Group by 324.6% during the first quarter. Schonfeld Strategic Advisors LLC now owns 938,693 shares of the insurance provider’s stock valued at $65,418,000 after purchasing an additional 717,613 shares during the period. 93.42% of the stock is currently 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.