The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $122.94 Consensus Target Price from Analysts

The Hartford Financial Services Group, Inc. (NYSE:HIG) has earned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $122.94.

A number of research analysts have recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. BMO Capital Markets increased their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Piper Sandler increased their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds have recently modified their holdings of HIG. Catalyst Financial Partners LLC increased its holdings in The Hartford Financial Services Group by 3.0% during the 4th 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 during the last quarter. Barrett & Company Inc. increased its holdings in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the last quarter. Brooklyn Investment Group increased its holdings in The Hartford Financial Services Group by 4.0% during the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after purchasing an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares during the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after purchasing an additional 98 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 0.7 %

Shares of HIG stock opened at $119.73 on Monday. The Hartford Financial Services Group has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The stock has a market cap of $34.17 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.91. The business has a fifty day simple moving average of $113.89 and a 200-day simple moving average of $114.99. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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, analysts forecast that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

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.