Raymond James Issues Positive Forecast for The Hartford Financial Services Group (NYSE:HIG) Stock Price

The Hartford Financial Services Group (NYSE:HIG - Free Report) had its price objective increased by Raymond James from $125.00 to $135.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider's stock.

A number of other brokerages also recently issued reports on HIG. Piper Sandler upped 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 report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com downgraded shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.47.

Remove Ads

The Hartford Financial Services Group Trading Down 8.0 %

Shares of HIG traded down $9.88 during trading hours on Monday, hitting $113.56. 2,389,254 shares of the stock were exchanged, compared to its average volume of 1,581,757. 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 firm has a market capitalization of $32.41 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The business has a 50-day moving average of $116.52 and a 200-day moving average of $115.51. The Hartford Financial Services Group has a fifty-two week low of $94.47 and a fifty-two week high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating analysts' consensus estimates 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%. On average, research analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.83%. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the firm'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 sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,343 shares of company stock valued at $13,488,337 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock worth $26,000 after acquiring an additional 234 shares in the last quarter. Barrett & Company Inc. lifted its stake in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. Spurstone Advisory Services LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. bought a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $35,000. Finally, DT Investment Partners LLC increased its stake in The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after purchasing an additional 110 shares during the period. 93.42% of the stock is currently owned by 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.