The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $145.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective upped by analysts at Piper Sandler from $130.00 to $145.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target suggests a potential upside of 16.02% from the company’s current price.

Several other research firms have also recently weighed in on HIG. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Raymond James lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.61.

The Hartford Financial Services Group Stock Up 0.5 %

Shares of NYSE HIG opened at $124.98 on Tuesday. The business has a 50-day simple moving average of $116.27 and a two-hundred day simple moving average of $115.46. The Hartford Financial Services Group has a 52 week low of $94.47 and a 52 week high of $125.08. The company has a market cap of $35.67 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.12 and a beta of 0.91. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data 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 net margin of 11.72% and a return on equity of 19.55%. Research analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently added to or reduced their stakes in HIG. 111 Capital bought a new stake in The Hartford Financial Services Group during the 4th quarter valued at approximately $1,263,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of The Hartford Financial Services Group by 37.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 101,634 shares of the insurance provider’s stock valued at $11,119,000 after purchasing an additional 27,464 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of The Hartford Financial Services Group by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider’s stock valued at $1,453,000 after purchasing an additional 105 shares in the last quarter. Siemens Fonds Invest GmbH grew its stake in The Hartford Financial Services Group by 91.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 13,518 shares of the insurance provider’s stock worth $1,479,000 after purchasing an additional 6,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in The Hartford Financial Services Group in the fourth quarter worth $29,749,000. Institutional investors own 93.42% of the company’s stock.

About The Hartford Financial Services Group

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.