Morgan Stanley Cuts The Hartford Financial Services Group (NYSE:HIG) Price Target to $109.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective decreased by Morgan Stanley from $110.00 to $109.00 in a research report sent to investors on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Several other research analysts also recently weighed in on HIG. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. UBS Group boosted 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 note on Monday, February 5th. Citigroup raised their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Finally, Raymond James reaffirmed an outperform rating and issued a $120.00 price objective (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of Moderate Buy and an average target price of $105.44.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $97.07 on Friday. The firm has a market capitalization of $28.71 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.35 and a beta of 0.89. 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 Hartford Financial Services Group has a 52 week low of $67.05 and a 52 week high of $103.64. The firm’s 50 day moving average is $98.58 and its two-hundred day moving average is $86.64.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. Research analysts forecast that The Hartford Financial Services Group will post 10.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 8,206 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $95.60, for a total transaction of $784,493.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $2,468,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Adin M. Tooker sold 8,206 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $95.60, for a total value of $784,493.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were 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 $56,536.20. The disclosure for this sale can be found here. Insiders have sold 106,501 shares of company stock valued at $10,141,126 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GoalVest Advisory LLC grew its position in shares of The Hartford Financial Services Group by 464.8% in the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $27,000. Benjamin Edwards Inc. purchased a new position in shares of The Hartford Financial Services Group during the 1st quarter worth about $35,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $28,000. 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.