The Hartford Financial Services Group (NYSE:HIG) Stock Price Expected to Rise, Raymond James Analyst Says

The Hartford Financial Services Group (NYSE:HIG) had its price objective hoisted by research analysts at Raymond James from $125.00 to $135.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Raymond James’ price target would suggest a potential upside of 8.58% from the company’s current price.

Several other analysts have also recently issued reports on HIG. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Piper Sandler boosted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company reduced their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted 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. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.61.

The Hartford Financial Services Group Price Performance

HIG opened at $124.34 on Monday. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $124.90. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.12 and a beta of 0.91. 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 company has a fifty day simple moving average of $116.00 and a 200 day simple moving average of $115.39.

The Hartford Financial Services Group (NYSE:HIG) 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 return on equity of 19.55% and a net margin of 11.72%. Equities research analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 transaction, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of The Hartford Financial Services Group by 3,342.9% in the fourth 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 in the last quarter. Barrett & Company Inc. grew its position in The Hartford Financial Services Group by 46.5% during 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 in the last quarter. Spurstone Advisory Services LLC acquired a new stake in The Hartford Financial Services Group during the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at $35,000. Finally, DT Investment Partners LLC boosted its position in shares of 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 worth $36,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.