The Hartford Financial Services Group (NYSE:HIG) Hits New 12-Month High Following Analyst Upgrade

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) reached a new 52-week high on Wednesday after Piper Sandler raised their price target on the stock from $130.00 to $145.00. Piper Sandler currently has an overweight rating on the stock. The Hartford Financial Services Group traded as high as $125.08 and last traded at $124.98, with a volume of 1345988 shares. The stock had previously closed at $124.39.

A number of other equities research analysts also recently commented on the company. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. Raymond James increased their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Wells Fargo & Company cut their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.61.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, 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 transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’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 value of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, 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. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Large investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. boosted its position in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. grew its stake in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $35,000. Finally, DT Investment Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.5 %

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 stock has a market cap of $35.67 billion, a P/E ratio of 12.08, a PEG ratio of 1.12 and a beta of 0.91. The firm has a 50-day simple moving average of $116.00 and a two-hundred day simple moving average of $115.39.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.66%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 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.