Analysts Set The Hartford Financial Services Group, Inc. (NYSE:HIG) PT at $122.94

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $122.94.

HIG has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $119.73 on Monday. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $124.90. 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 company has a market capitalization of $34.17 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The business has a 50 day simple moving average of $113.89 and a 200-day simple moving average of $114.99.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts expect that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly 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 document filed 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 stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents 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

A number of institutional investors and hedge funds have recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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. raised its position in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $33,000. BNP Paribas acquired a new position in The Hartford Financial Services Group during the third quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in The Hartford Financial Services Group during the fourth quarter valued at $35,000. 93.42% of the stock is 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.