Morgan Stanley Raises The Hartford Financial Services Group (NYSE:HIG) Price Target to $110.00

The Hartford Financial Services Group (NYSE:HIG) had its price target upped by Morgan Stanley from $94.00 to $110.00 in a report published on Monday, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Other analysts have also issued research reports about the company. Piper Sandler reaffirmed an overweight rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Roth Mkm upped their price objective on The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. increased their target price 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. UBS Group increased their target price on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a buy rating in a report on Monday, February 5th. Finally, Keefe, Bruyette & Woods increased their target price 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. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $105.56.

The Hartford Financial Services Group Stock Down 2.0 %

NYSE:HIG opened at $95.78 on Monday. The Hartford Financial Services Group has a 52 week low of $67.05 and a 52 week high of $103.64. The stock’s fifty day moving average is $97.49 and its two-hundred day moving average is $84.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Research analysts anticipate that The Hartford Financial Services Group will post 10.12 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 956 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares in the company, valued at $14,635,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Christopher Swift sold 956 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares in the company, valued at $14,635,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the sale, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,082 shares of company stock worth $22,404,321. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. lifted its position in The Hartford Financial Services Group by 11.7% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 331 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $2,875,000. New Millennium Group LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $1,552,000. SteelPeak Wealth LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $1,691,000. Finally, Moody Aldrich Partners LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $1,801,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.