The Hartford Financial Services Group (NYSE:HIG - Free Report) had its price objective raised by JPMorgan Chase & Co. from $125.00 to $129.00 in a research note released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider's stock.
A number of other equities research analysts have also recently weighed in on the company. Barclays raised The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com cut The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company decreased their target price 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 report on Monday, February 3rd. Nine investment 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $124.13.
View Our Latest Report on HIG
The Hartford Financial Services Group Stock Performance
HIG traded up $1.26 during trading on Tuesday, reaching $116.05. 1,351,158 shares of the company were exchanged, compared to its average volume of 1,588,690. 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 stock has a market cap of $33.12 billion, a P/E ratio of 11.21, a PEG ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a 52 week low of $94.47 and a 52 week high of $125.08. The firm has a 50 day moving average of $116.60 and a 200 day moving average of $115.33.
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, topping 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%. On average, sell-side analysts forecast that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.
The Hartford Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.79%. 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 related news, EVP Robert W. Paiano sold 13,138 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock worth $13,488,337 in the last quarter. 1.60% of the stock is owned by company insiders.
Institutional Trading of The Hartford Financial Services Group
Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in The Hartford Financial Services Group during the fourth quarter valued at $416,340,000. GAMMA Investing LLC increased its holdings 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 purchasing an additional 1,413,945 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Financial Services Group by 265.5% in the 4th 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. lifted its position in shares of 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 worth $247,761,000 after purchasing an additional 735,170 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after purchasing an additional 709,324 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.
About The Hartford Financial Services Group
(
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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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