Royal Bank of Canada Reaffirms Sector Perform Rating for The Hartford Financial Services Group (NYSE:HIG)

The Hartford Financial Services Group (NYSE:HIG)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $125.00 price target on the insurance provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.15% from the company’s previous close.

Several other research analysts have also issued reports on HIG. BMO Capital Markets increased their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Bank of America increased their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. UBS Group raised their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $122.89.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG traded down $0.09 during mid-day trading on Monday, hitting $111.46. The company had a trading volume of 762,456 shares, compared to its average volume of 1,608,667. 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 business’s 50-day simple moving average is $112.91 and its 200-day simple moving average is $113.55. The Hartford Financial Services Group has a 12 month low of $88.81 and a 12 month high of $124.90. The firm has a market cap of $32.31 billion, a P/E ratio of 10.79, a PEG ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, analysts predict that The Hartford Financial Services Group will post 11.46 earnings per share for the current fiscal year.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Co. of Vermont boosted its position in shares of The Hartford Financial Services Group by 27.9% during the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 88 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after purchasing an additional 90 shares in the last quarter. Barrett & Company Inc. raised its holdings in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group raised its holdings in shares of The Hartford Financial Services Group by 4.0% during the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after acquiring an additional 94 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after acquiring an additional 97 shares during the period. 93.42% of the stock is owned by institutional investors.

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.