The Hartford Financial Services Group, Inc. (NYSE:HIG) Given Average Recommendation of “Moderate Buy” by Brokerages

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

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted 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. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. BMO Capital Markets boosted 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 research report on Wednesday, November 27th. Piper Sandler boosted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

The Hartford Financial Services Group Stock Down 0.4 %

Shares of The Hartford Financial Services Group stock opened at $119.20 on Monday. The firm’s 50 day moving average price is $114.36 and its 200-day moving average price is $115.05. 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 has a 52-week low of $94.47 and a 52-week high of $124.90. The company has a market cap of $34.02 billion, a P/E ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side 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 will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Activity at The Hartford Financial Services Group

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

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of large investors have recently added to or reduced their stakes in HIG. Oppenheimer & Co. Inc. acquired a new position in The Hartford Financial Services Group during the third quarter worth $271,000. CIBC Asset Management Inc raised its position in The Hartford Financial Services Group by 6.8% during the third quarter. CIBC Asset Management Inc now owns 43,699 shares of the insurance provider’s stock worth $5,139,000 after acquiring an additional 2,785 shares during the period. Empirical Finance LLC raised its position in The Hartford Financial Services Group by 1.8% during the third quarter. Empirical Finance LLC now owns 10,787 shares of the insurance provider’s stock worth $1,269,000 after acquiring an additional 192 shares during the period. Empowered Funds LLC raised its position in The Hartford Financial Services Group by 34.0% during the third quarter. Empowered Funds LLC now owns 17,658 shares of the insurance provider’s stock worth $2,077,000 after acquiring an additional 4,482 shares during the period. Finally, Quest Partners LLC raised its position in The Hartford Financial Services Group by 6,364.9% during the third quarter. Quest Partners LLC now owns 18,425 shares of the insurance provider’s stock worth $2,167,000 after acquiring an additional 18,140 shares during the period. 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.