Wells Fargo & Company Has Lowered Expectations for The Hartford Financial Services Group (NYSE:HIG) Stock Price

The Hartford Financial Services Group (NYSE:HIG) had its price target reduced by Wells Fargo & Company from $130.00 to $126.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the stock. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Jefferies Financial Group boosted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, UBS Group increased their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Stock Up 1.4 %

HIG opened at $113.54 on Monday. 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 business’s fifty day simple moving average is $112.51 and its 200 day simple moving average is $113.68. The Hartford Financial Services Group has a 52 week low of $89.04 and a 52 week high of $124.90. The stock has a market cap of $32.92 billion, a PE ratio of 10.97, a P/E/G ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last announced 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 return on equity of 19.55% and a net margin of 11.72%. As a group, research analysts expect that The Hartford Financial Services Group will post 11.46 earnings per share for the current fiscal year.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction on Friday, November 15th. The stock was 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 owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Financial Services Group

Hedge funds and other institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. lifted its position in The Hartford Financial Services Group by 718.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,604 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 2,286 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $58,000. Bailard Inc. lifted its holdings in shares of The Hartford Financial Services Group by 11.8% during the fourth quarter. Bailard Inc. now owns 21,388 shares of the insurance provider’s stock valued at $2,340,000 after purchasing an additional 2,261 shares during the last quarter. Purkiss Capital Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $219,000. Finally, Williamson Legacy Group LLC grew its stake in shares of The Hartford Financial Services Group by 4.4% in the 4th quarter. Williamson Legacy Group LLC now owns 5,803 shares of the insurance provider’s stock worth $635,000 after buying an additional 242 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.