The Hartford Financial Services Group (NYSE:HIG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other research firms have also weighed in on HIG. Jefferies Financial Group dropped their price objective on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research note on Friday, April 11th. UBS Group upped their price objective on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Piper Sandler upped their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Wells Fargo & Company dropped their price objective on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.71.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $131.14 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a one year low of $98.16 and a one year high of $132.09. The firm has a market capitalization of $37.26 billion, a P/E ratio of 12.67, a PEG ratio of 1.12 and a beta of 0.70. The business has a fifty day moving average of $121.27 and a 200 day moving average of $116.57.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The Hartford Financial Services Group’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares of the company’s stock, valued at approximately $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,429 shares of company stock valued at $13,618,028. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors have recently added to or reduced their stakes in HIG. Wealthcare Advisory Partners LLC boosted its position in shares of The Hartford Financial Services Group by 10.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,023 shares of the insurance provider’s stock worth $331,000 after buying an additional 282 shares during the period. Merit Financial Group LLC lifted its holdings in The Hartford Financial Services Group by 251.4% during the 4th quarter. Merit Financial Group LLC now owns 7,078 shares of the insurance provider’s stock worth $774,000 after buying an additional 5,064 shares during the last quarter. HB Wealth Management LLC lifted its holdings in The Hartford Financial Services Group by 14.2% during the 4th quarter. HB Wealth Management LLC now owns 4,982 shares of the insurance provider’s stock worth $545,000 after buying an additional 621 shares during the last quarter. UMB Bank n.a. lifted its holdings in The Hartford Financial Services Group by 612.6% during the 4th quarter. UMB Bank n.a. now owns 32,528 shares of the insurance provider’s stock worth $3,559,000 after buying an additional 27,963 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of The Hartford Financial Services Group by 6.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 58,718 shares of the insurance provider’s stock worth $6,424,000 after purchasing an additional 3,576 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.