The Hartford Financial Services Group (NYSE:HIG) Rating Reiterated by Royal Bank of Canada

The Hartford Financial Services Group (NYSE:HIG)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They currently have a $105.00 price target on the insurance provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 4.44% from the company’s previous close.

Several other research firms have also recently weighed in on HIG. Evercore ISI lifted their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Raymond James reiterated an “outperform” rating and set a $120.00 price objective (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Citigroup cut The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $114.00 in a report on Friday. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.71.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $100.54 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group has a 1 year low of $68.82 and a 1 year high of $105.20. The stock has a market cap of $29.74 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93. The stock’s 50-day moving average price is $100.65 and its two-hundred day moving average price is $94.53.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the business posted $1.68 EPS. The Hartford Financial Services Group’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that The Hartford Financial Services Group will post 9.91 earnings per share for the current year.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the transaction, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its holdings in The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after buying an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group in the 1st quarter valued at $26,000. CVA Family Office LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at $27,000. Finally, Chilton Capital Management LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at $28,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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.