Jefferies Financial Group Cuts The Hartford Financial Services Group (NYSE:HIG) Price Target to $117.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective lowered by Jefferies Financial Group from $118.00 to $117.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a hold rating on the insurance provider’s stock.

Several other analysts also recently weighed in on the company. Wells Fargo & Company cut their target price on 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. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Piper Sandler raised their target price 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. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $124.13.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $116.05 on Friday. 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 $33.12 billion, a PE ratio of 11.21, a P/E/G ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a 1-year low of $94.47 and a 1-year high of $125.08. The business’s fifty day moving average price is $116.60 and its two-hundred day moving average price is $115.32.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

Insider Buying and Selling

In other news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds have recently bought and sold shares of HIG. Horizon Advisory Services Inc. purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $277,000. Assenagon Asset Management S.A. boosted its stake in shares of The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares during the period. Victory Capital Management Inc. boosted its stake in shares of The Hartford Financial Services Group by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after buying an additional 202,487 shares during the period. Suncoast Equity Management purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $311,000. Finally, Empowered Funds LLC increased its stake in shares of The Hartford Financial Services Group by 62.1% in the fourth quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider’s stock worth $3,131,000 after acquiring an additional 10,964 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

About The Hartford Financial Services Group

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.