The Hartford Financial Services Group (NYSE:HIG) Given New $116.00 Price Target at JPMorgan Chase & Co.

The Hartford Financial Services Group (NYSE:HIG) had its price target lifted by JPMorgan Chase & Co. from $104.00 to $116.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the stock. Bank of America cut their price objective on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a buy rating on the stock in a research report on Thursday. Raymond James reiterated an outperform rating and set a $120.00 price objective (up previously from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Piper Sandler reissued an overweight rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Morgan Stanley lowered their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Argus boosted their target price on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $107.50.

The Hartford Financial Services Group Trading Up 0.4 %

Shares of HIG opened at $101.75 on Thursday. The company’s fifty day moving average is $101.04 and its 200 day moving average is $96.04. The Hartford Financial Services Group has a fifty-two week low of $68.82 and a fifty-two week high of $105.20. The stock has a market capitalization of $30.09 billion, a PE ratio of 11.56, a P/E/G ratio of 0.84 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the firm earned $1.68 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that The Hartford Financial Services Group will post 9.86 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the transaction, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,499 shares of company stock valued at $9,449,309. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds have recently modified their holdings of HIG. GoalVest Advisory LLC increased its holdings in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group in the 1st quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $27,000. Finally, Chilton Capital Management LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.