The Hartford Financial Services Group’s (HIG) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of The Hartford Financial Services Group (NYSE:HIG) in a research note published on Monday,Benzinga reports. The brokerage currently has a $125.00 target price on the insurance provider’s stock.

Several other research firms have also recently issued reports on HIG. Jefferies Financial Group boosted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets upped their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Piper Sandler raised their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $113.54 on Monday. 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 business has a 50 day simple moving average of $112.51 and a 200-day simple moving average of $113.68. The Hartford Financial Services Group has a 12 month low of $89.04 and a 12 month high of $124.90. The stock has a market capitalization of $32.92 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. Equities analysts predict that The Hartford Financial Services Group will post 11.46 earnings per share for the current year.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIG. SRS Capital Advisors Inc. grew its holdings in shares of The Hartford Financial Services Group by 718.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,604 shares of the insurance provider’s stock worth $285,000 after buying an additional 2,286 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $58,000. Bailard Inc. grew its stake in The Hartford Financial Services Group by 11.8% in the 4th quarter. Bailard Inc. now owns 21,388 shares of the insurance provider’s stock worth $2,340,000 after acquiring an additional 2,261 shares during the period. Purkiss Capital Advisors LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at $219,000. Finally, Williamson Legacy Group LLC raised its holdings in The Hartford Financial Services Group by 4.4% in the 4th quarter. Williamson Legacy Group LLC now owns 5,803 shares of the insurance provider’s stock valued at $635,000 after acquiring an additional 242 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other 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.