Hartford Financial Services Group (NYSE:HIG) had its price objective upped by analysts at Morgan Stanley from $53.00 to $58.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target suggests a potential upside of 1.56% from the stock’s current price.
A number of other research firms have also commented on HIG. UBS Group increased their price objective on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Goldman Sachs Group raised Koninklijke KPN from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 29th. B. Riley set a $20.00 price objective on AMC Entertainment and gave the company a “buy” rating in a research note on Wednesday, June 26th. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $70.00 price objective on shares of Church & Dwight in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.31.
HIG opened at $57.11 on Friday. 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 has a market capitalization of $20.65 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.19 and a beta of 0.68. Hartford Financial Services Group has a 52 week low of $40.54 and a 52 week high of $58.22. The firm’s fifty day moving average is $55.67.
Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.15. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.84 billion. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. On average, research analysts forecast that Hartford Financial Services Group will post 5.05 earnings per share for the current fiscal year.
In other Hartford Financial Services Group news, insider Martha Gervasi sold 3,672 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $57.95, for a total value of $212,792.40. Following the sale, the insider now directly owns 18,882 shares of the company’s stock, valued at approximately $1,094,211.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brion S. Johnson sold 32,094 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $55.22, for a total value of $1,772,230.68. Following the completion of the sale, the insider now directly owns 62,819 shares in the company, valued at $3,468,865.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,998 shares of company stock worth $5,289,543. 1.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NuWave Investment Management LLC lifted its stake in shares of Hartford Financial Services Group by 950.0% in the 2nd quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 456 shares in the last quarter. Harvest Group Wealth Management LLC acquired a new position in shares of Hartford Financial Services Group in the 1st quarter valued at about $33,000. Icon Wealth Partners LLC acquired a new position in shares of Hartford Financial Services Group in the 1st quarter valued at about $33,000. Pinnacle Bank acquired a new position in shares of Hartford Financial Services Group in the 4th quarter valued at about $35,000. Finally, Horan Capital Advisors LLC. acquired a new position in shares of Hartford Financial Services Group in the 1st quarter valued at about $37,000. 89.75% of the stock is currently owned by institutional investors and hedge funds.
Hartford Financial Services Group Company Profile
The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.
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