The Hartford Financial Services Group (NYSE:HIG - Get Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $140.00 to $133.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 12.66% from the stock's previous close.
Several other analysts have also recently issued reports on HIG. Wells Fargo & Company dropped their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. 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. Barclays raised The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.13.
Check Out Our Latest Stock Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Price Performance
Shares of HIG stock traded up $2.00 on Wednesday, reaching $118.05. 331,598 shares of the company were exchanged, compared to its average volume of 1,582,909. The company has a market cap of $33.69 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a 1 year low of $94.47 and a 1 year high of $125.08. The business has a 50-day moving average price of $116.60 and a 200 day moving average price of $115.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. Equities research analysts forecast that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.
Insider Activity
In other news, EVP Robert W. Paiano sold 13,138 shares of the company's stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On The Hartford Financial Services Group
Large investors have recently bought and sold shares of the business. Norges Bank acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $416,340,000. GAMMA Investing LLC grew its position in shares of The Hartford Financial Services Group by 14,049.5% in the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after buying an additional 1,413,945 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after acquiring an additional 881,224 shares in the last quarter. Ameriprise Financial Inc. lifted its position in The Hartford Financial Services Group by 48.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after acquiring an additional 735,170 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock valued at $95,322,000 after acquiring 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
(
Get Free Report)
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.
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