The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives Average Rating of “Moderate Buy” from Brokerages

The Hartford Financial Services Group, Inc. (NYSE:HIG) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $124.13.

A number of research analysts have recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Jefferies Financial Group cut their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Barclays raised their target price on The Hartford Financial Services Group from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price objective on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th.

The Hartford Financial Services Group Stock Up 0.6 %

Shares of NYSE HIG opened at $117.84 on Friday. The stock has a fifty day moving average price of $116.95 and a 200 day moving average price of $115.36. 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 $94.47 and a 12-month high of $125.08. The company has a market cap of $33.94 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate 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%. Research analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group 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 sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $26,385,250. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,343 shares of company stock worth $13,488,337 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of The Hartford Financial Services Group by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock valued at $792,796,000 after purchasing an additional 81,495 shares during the period. Victory Capital Management Inc. raised its stake in 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 acquiring an additional 202,487 shares in the last quarter. Nordea Investment Management AB boosted its position in The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after acquiring an additional 581,103 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in The Hartford Financial Services Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider’s stock worth $419,053,000 after acquiring an additional 234,320 shares during the period. Finally, Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $416,340,000. 93.42% of the stock is currently owned by 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.