Royal Bank of Canada Reaffirms Sector Perform Rating for The Hartford Financial Services Group (NYSE:HIG)

The Hartford Financial Services Group (NYSE:HIG)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $125.00 target price on the insurance provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.15% from the company’s current price.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday. BMO Capital Markets lifted their target price on shares of 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. Finally, UBS Group lifted their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.89.

The Hartford Financial Services Group Stock Down 0.1 %

HIG stock traded down $0.09 during midday trading on Monday, hitting $111.46. The company’s stock had a trading volume of 762,456 shares, compared to its average volume of 1,608,667. 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 Hartford Financial Services Group has a twelve month low of $88.81 and a twelve month high of $124.90. The company’s fifty day moving average price is $112.91 and its 200 day moving average price is $113.55. The stock has a market capitalization of $32.31 billion, a P/E ratio of 10.79, a PEG ratio of 0.81 and a beta of 0.97.

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 (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%. As a group, equities research analysts predict that The Hartford Financial Services Group will post 11.46 EPS for the current year.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC increased its position in The Hartford Financial Services Group by 10.7% during the 4th quarter. Private Advisor Group LLC now owns 20,729 shares of the insurance provider’s stock worth $2,268,000 after purchasing an additional 2,004 shares in the last quarter. Summit Place Financial Advisors LLC increased its position in The Hartford Financial Services Group by 3.2% during the 4th quarter. Summit Place Financial Advisors LLC now owns 26,745 shares of the insurance provider’s stock worth $2,926,000 after purchasing an additional 835 shares in the last quarter. TKG Advisors LLC increased its position in The Hartford Financial Services Group by 119.0% during the 4th quarter. TKG Advisors LLC now owns 42,015 shares of the insurance provider’s stock worth $4,684,000 after purchasing an additional 22,834 shares in the last quarter. Global Retirement Partners LLC increased its position in The Hartford Financial Services Group by 10.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,788 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 162 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in The Hartford Financial Services Group by 82.5% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 15,832 shares of the insurance provider’s stock worth $1,732,000 after purchasing an additional 7,157 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.