Wells Fargo & Company Lowers The Hartford Financial Services Group (NYSE:HIG) Price Target to $126.00

The Hartford Financial Services Group (NYSE:HIG) had its price target lowered by Wells Fargo & Company from $130.00 to $126.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also issued reports on the company. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Bank of America upped their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group raised 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. Finally, BMO Capital Markets boosted their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.89.

The Hartford Financial Services Group Stock Up 0.8 %

Shares of NYSE HIG opened at $112.39 on Monday. The firm’s 50-day moving average price is $112.91 and its 200-day moving average price is $113.55. 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 Hartford Financial Services Group has a 12-month low of $88.81 and a 12-month high of $124.90. The stock has a market capitalization of $32.58 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 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%. On average, equities research analysts anticipate that The Hartford Financial Services Group will post 11.46 EPS for the current fiscal year.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’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 transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of large investors have recently made changes to their positions in HIG. Sanctuary Advisors LLC purchased a new stake in The Hartford Financial Services Group during the 2nd quarter valued at about $2,871,000. Czech National Bank boosted its position in The Hartford Financial Services Group by 5.9% in the third quarter. Czech National Bank now owns 59,690 shares of the insurance provider’s stock valued at $7,020,000 after buying an additional 3,331 shares during the last quarter. GAMMA Investing LLC increased its holdings in The Hartford Financial Services Group by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 9,483 shares of the insurance provider’s stock worth $1,115,000 after buying an additional 1,884 shares during the period. McLean Asset Management Corp purchased a new position in The Hartford Financial Services Group during the 3rd quarter worth approximately $208,000. Finally, Clean Yield Group acquired a new stake in The Hartford Financial Services Group during the 3rd quarter valued at approximately $33,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.