The Hartford Financial Services Group (NYSE:HIG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a hold rating to a buy rating in a research note released on Thursday morning.

HIG has been the subject of a number of other reports. 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 research note on Monday, February 3rd. Raymond James increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Piper Sandler boosted 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. Jefferies Financial Group dropped their price target on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Eight investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.13.

The Hartford Financial Services Group Stock Up 0.6 %

HIG stock opened at $117.84 on Thursday. The firm has a fifty day moving average price of $116.95 and a two-hundred day moving average price of $115.36. 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 Hartford Financial Services Group has a 1-year low of $94.47 and a 1-year high of $125.08. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.12 and a beta of 0.68.

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 the consensus estimate 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%. Research analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the 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 sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,343 shares of company stock worth $13,488,337. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. boosted its holdings in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $35,000. Finally, DT Investment Partners LLC lifted its position in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares in the last quarter. 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.