The Hartford Financial Services Group (NYSE:HIG) Stock Price Expected to Rise, UBS Group Analyst Says

The Hartford Financial Services Group (NYSE:HIG) had its price target raised by UBS Group from $139.00 to $142.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the stock. Piper Sandler upped their price objective 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. Royal Bank of Canada reissued 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. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Raymond James upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Finally, StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 17th. Seven equities research 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 stock. Based on data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $126.87.

The Hartford Financial Services Group Stock Up 1.5 %

Shares of NYSE HIG opened at $120.55 on Monday. The Hartford Financial Services Group has a 12-month low of $95.00 and a 12-month high of $125.08. The company has a market capitalization of $34.72 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. 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 firm’s 50-day moving average is $117.81 and its two-hundred day moving average is $115.42.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $26,385,250. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,343 shares of company stock worth $13,488,337. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 valued at $26,000 after purchasing an additional 234 shares during the last quarter. Center for Financial Planning Inc. bought a new position in shares of The Hartford Financial Services Group during the first quarter valued at approximately $33,000. Barrett & Company Inc. grew its holdings 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 valued at $32,000 after purchasing an additional 93 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $33,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in The Hartford Financial Services Group in the 1st quarter worth approximately $37,000. 93.42% of the stock is owned by institutional investors.

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.