The Hartford Financial Services Group (NYSE:HIG) Reaches New 52-Week High on Analyst Upgrade

The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday after Piper Sandler raised their price target on the stock from $130.00 to $145.00. Piper Sandler currently has an overweight rating on the stock. The Hartford Financial Services Group traded as high as $125.08 and last traded at $124.98, with a volume of 1345988 shares. The stock had previously closed at $124.39.

Other research analysts have also issued reports about the company. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Raymond James increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of 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. Finally, StockNews.com lowered shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Ten equities research 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $123.47.

Insider Activity at The Hartford Financial Services Group

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 transaction, the executive vice president now owns 31,678 shares of the company's stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock valued at $13,488,337 over the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HIG. 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 buying an additional 234 shares during the last quarter. Barrett & Company Inc. boosted its position 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 worth $32,000 after purchasing an additional 93 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter worth $33,000. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $35,000. Finally, DT Investment Partners LLC increased its holdings in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

The stock has a market cap of $31.30 billion, a P/E ratio of 10.60, a PEG ratio of 1.12 and a beta of 0.68. The stock has a fifty day simple moving average of $116.56 and a 200-day simple moving average of $115.47. 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 (NYSE:HIG - Get Free Report) last issued its earnings results 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 net margin of 11.72% and a return on equity of 19.55%. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were issued a $0.52 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.90%. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.10%.

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.