The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $81.15 Average Target Price from Brokerages

The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $81.15.

A number of brokerages recently issued reports on HIG. Barclays raised their price objective on shares of The Hartford Financial Services Group from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Raymond James raised their price target on shares of The Hartford Financial Services Group from $80.00 to $85.00 in a report on Tuesday, May 3rd. StockNews.com began coverage on shares of The Hartford Financial Services Group in a report on Thursday, March 31st. They set a “buy” rating for the company. Citigroup began coverage on shares of The Hartford Financial Services Group in a report on Monday, May 23rd. They set a “buy” rating and a $81.00 price target for the company. Finally, Credit Suisse Group raised their price target on shares of The Hartford Financial Services Group from $93.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, June 3rd.

HIG stock opened at $62.81 on Tuesday. The stock has a market capitalization of $20.66 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The Hartford Financial Services Group has a 12 month low of $59.86 and a 12 month high of $78.17. The firm has a 50-day moving average price of $69.98 and a 200-day moving average price of $70.24.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last posted its earnings results on Thursday, April 28th. The insurance provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.10. The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.60 billion. The Hartford Financial Services Group had a net margin of 11.39% and a return on equity of 14.84%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. As a group, equities analysts predict that The Hartford Financial Services Group will post 6.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.18%.

In other news, CEO Christopher Swift sold 47,130 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $72.89, for a total transaction of $3,435,305.70. Following the sale, the chief executive officer now directly owns 172,129 shares in the company, valued at approximately $12,546,482.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 47,214 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $73.18, for a total value of $3,455,120.52. Following the sale, the chief financial officer now owns 50,503 shares in the company, valued at $3,695,809.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,597 shares of company stock worth $8,980,210. Company insiders own 1.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in HIG. Covestor Ltd bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $27,000. Confluence Wealth Services Inc. purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $28,000. Parkside Investments LLC purchased a new position in The Hartford Financial Services Group during the 1st quarter valued at about $30,000. James Reed Financial Services Inc. purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

About The Hartford Financial Services Group (Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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