The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $129.71 Average PT from Analysts

The Hartford Financial Services Group, Inc. (NYSE:HIG) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $129.71.

HIG has been the topic of several research analyst reports. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Barclays lifted their price objective on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Raymond James lifted their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Finally, UBS Group lifted their price objective on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, April 28th.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,429 shares of company stock valued at $13,618,028 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

A number of institutional investors have recently added to or reduced their stakes in HIG. PFG Investments LLC boosted its holdings in The Hartford Financial Services Group by 8.6% during the fourth quarter. PFG Investments LLC now owns 2,858 shares of the insurance provider’s stock worth $313,000 after buying an additional 227 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of The Hartford Financial Services Group by 6.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,829 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 163 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of The Hartford Financial Services Group by 6.7% in the fourth quarter. OLD National Bancorp IN now owns 3,657 shares of the insurance provider’s stock valued at $400,000 after purchasing an additional 229 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $825,000. Finally, Caprock Group LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $4,341,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $129.39 on Friday. The company’s fifty day moving average price is $123.40 and its 200 day moving average price is $117.75. The Hartford Financial Services Group has a 12 month low of $98.16 and a 12 month high of $132.09. 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 firm has a market capitalization of $36.76 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.12 and a beta of 0.71.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the business earned $2.34 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group’s payout ratio is 20.74%.

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.