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

The Hartford Financial Services Group (NYSE:HIG - Free Report) had its price objective hoisted by Barclays from $140.00 to $145.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the insurance provider's stock.

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Piper Sandler boosted their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.87.

The Hartford Financial Services Group Trading Up 1.5 %

The Hartford Financial Services Group stock traded up $1.79 during mid-day trading on Friday, reaching $120.55. 1,581,045 shares of the company traded hands, compared to its average volume of 1,569,763. The firm's 50 day moving average price is $117.66 and its 200 day moving average price is $115.39. The firm has a market capitalization of $34.72 billion, a price-to-earnings ratio of 11.65, a P/E/G 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 Hartford Financial Services Group has a 52-week low of $95.00 and a 52-week high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. During the same quarter in the prior year, the company earned $2.34 EPS. The business's revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued 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 presently 20.10%.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at approximately $26,385,250. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,343 shares of company stock valued at $13,488,337. Corporate insiders own 1.60% of the company's stock.

Institutional Investors 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. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $416,340,000. GAMMA Investing LLC increased its position in shares of The Hartford Financial Services Group by 14,049.5% during the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after acquiring an additional 1,413,945 shares during the period. AustralianSuper Pty Ltd boosted its holdings in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock valued at $132,710,000 after purchasing an additional 881,224 shares during the period. Ameriprise Financial Inc. increased its holdings in The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock worth $247,761,000 after purchasing an additional 735,170 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after buying an additional 709,324 shares in the last quarter. Hedge funds and other 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.