The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $130.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective hoisted by Piper Sandler from $127.00 to $130.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 16.52% from the company’s previous close.

Other analysts have also issued reports about the stock. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. UBS Group boosted their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group increased their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America boosted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.33.

The Hartford Financial Services Group Trading Up 0.0 %

HIG stock traded up $0.02 during trading on Monday, reaching $111.57. 697,955 shares of the stock were exchanged, compared to its average volume of 1,602,619. The business has a 50 day moving average price of $112.91 and a 200-day moving average price of $113.55. The Hartford Financial Services Group has a 1 year low of $88.81 and a 1 year high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $32.34 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.81 and a beta of 0.97.

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

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC increased its holdings in shares of The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after purchasing an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in The Hartford Financial Services Group by 3.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after buying an additional 4,449 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $633,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $19,005,000. Finally, Citigroup Inc. grew its holdings in shares of The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock worth $37,029,000 after acquiring an additional 10,566 shares during the period. 93.42% of the stock is 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.