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

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) had its target price lifted by Piper Sandler from $130.00 to $145.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Piper Sandler's price objective would indicate a potential upside of 27.69% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. Raymond James lifted their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price target on 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. Barclays upgraded 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 research report on Monday, January 6th. Finally, StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.47.

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The Hartford Financial Services Group Price Performance

NYSE HIG traded down $9.88 on Tuesday, hitting $113.56. 2,389,254 shares of the company's stock were exchanged, compared to its average volume of 1,581,757. The stock has a 50-day moving average of $116.52 and a 200-day moving average of $115.51. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group has a 52 week low of $94.47 and a 52 week high of $125.08. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. Analysts expect that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

Insider Activity

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction that occurred 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 approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction that occurred 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 directly owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock valued at $13,488,337 in the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HIG. HighTower Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 7.1% in the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider's stock valued at $13,063,000 after purchasing an additional 7,350 shares in the last quarter. Horizon Advisory Services Inc. purchased a new stake in The Hartford Financial Services Group in the 4th quarter valued at $277,000. Zurich Insurance Group Ltd FI bought a new position in The Hartford Financial Services Group during the 3rd quarter valued at $19,005,000. Assenagon Asset Management S.A. boosted its holdings in 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 acquiring an additional 709,324 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in The Hartford Financial Services Group by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock worth $514,363,000 after acquiring an additional 202,487 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

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.