The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $117.00 by Analysts at Jefferies Financial Group

The Hartford Financial Services Group (NYSE:HIG) had its price objective cut by Jefferies Financial Group from $118.00 to $117.00 in a report released on Friday,Benzinga reports. They currently have a hold rating on the insurance provider’s stock.

Several other research analysts also recently commented on HIG. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James increased 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, March 31st. Wells Fargo & Company decreased their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Piper Sandler upped 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 report on Tuesday, April 1st. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.13.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $116.05 on Friday. The firm has a market capitalization of $33.12 billion, a PE ratio of 11.21, a PEG 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 company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $116.60 and its 200 day simple moving average is $115.33.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.79%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction 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 transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,343 shares of company stock worth $13,488,337. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. grew its holdings in The Hartford Financial Services Group by 3,342.9% during the 4th 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 during the last quarter. Barrett & Company Inc. lifted its position in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares in the last quarter. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. Finally, DT Investment Partners LLC raised its position 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 last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.