The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $135.00 at Raymond James

The Hartford Financial Services Group (NYSE:HIG) had its price objective lifted by research analysts at Raymond James from $125.00 to $135.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Raymond James’ target price indicates a potential upside of 8.58% from the company’s current price.

HIG has been the subject of a number of other reports. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, 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 report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.61.

The Hartford Financial Services Group Trading Up 0.5 %

The Hartford Financial Services Group stock opened at $124.34 on Monday. The Hartford Financial Services Group has a one year low of $94.47 and a one year high of $124.90. The company’s fifty day moving average price is $116.00 and its two-hundred day moving average price is $115.39. 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 company has a market capitalization of $35.48 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS 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.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC acquired a new stake in The Hartford Financial Services Group in the third quarter worth $340,000. Townsquare Capital LLC boosted its holdings in shares of The Hartford Financial Services Group by 33.3% in the third quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider’s stock valued at $924,000 after buying an additional 1,962 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of The Hartford Financial Services Group by 1.4% during the third quarter. Rockefeller Capital Management L.P. now owns 41,624 shares of the insurance provider’s stock worth $4,892,000 after buying an additional 580 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of The Hartford Financial Services Group by 6.4% in the 3rd quarter. Captrust Financial Advisors now owns 20,131 shares of the insurance provider’s stock valued at $2,368,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Edgestream Partners L.P. grew its position in shares of The Hartford Financial Services Group by 124.6% in the 3rd quarter. Edgestream Partners L.P. now owns 7,039 shares of the insurance provider’s stock valued at $828,000 after acquiring an additional 3,905 shares during the period. 93.42% of the stock is currently 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.