StockNews.com Downgrades The Hartford Financial Services Group (NYSE:HIG) to Hold

StockNews.com downgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a buy rating to a hold rating in a report released on Monday.

HIG has been the subject of a number of other research reports. Piper Sandler increased their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, UBS Group increased their target price on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $126.87.

The Hartford Financial Services Group Trading Up 0.8%

HIG opened at $128.50 on Monday. The Hartford Financial Services Group has a twelve month low of $98.16 and a twelve month high of $129.55. The company has a 50-day simple moving average of $119.75 and a 200 day simple moving average of $115.85. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $36.51 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the prior year, the business posted $2.34 earnings per share. The Hartford Financial Services Group’s revenue was up 6.1% compared to the same quarter last year. Analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.74%.

Insider Transactions at The Hartford Financial Services Group

In other news, 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 transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This trade represents a 29.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now directly owns 622 shares of the company’s stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,429 shares of company stock valued at $13,618,028 in the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently modified their holdings of HIG. Public Sector Pension Investment Board lifted its holdings in shares of The Hartford Financial Services Group by 2.2% in the 1st quarter. Public Sector Pension Investment Board now owns 76,849 shares of the insurance provider’s stock worth $9,509,000 after purchasing an additional 1,631 shares in the last quarter. AIA Group Ltd bought a new stake in shares of The Hartford Financial Services Group during the 1st quarter worth $302,000. Nuveen LLC bought a new stake in shares of The Hartford Financial Services Group during the 1st quarter worth $87,516,000. Cooper Financial Group raised its stake in The Hartford Financial Services Group by 11.0% in the 1st quarter. Cooper Financial Group now owns 2,586 shares of the insurance provider’s stock valued at $320,000 after acquiring an additional 257 shares during the period. Finally, Entropy Technologies LP bought a new stake in The Hartford Financial Services Group in the 1st quarter valued at about $505,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.