The Hartford Financial Services Group (NYSE:HIG) PT Lowered to $109.00 at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its price objective cut by equities research analysts at Morgan Stanley from $110.00 to $109.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 13.44% from the company’s current price.

A number of other research analysts have also issued reports on the company. TD Cowen increased their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada increased their target price on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, February 5th. Piper Sandler reiterated an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Raymond James restated an “outperform” rating and issued 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. Finally, Citigroup raised their price objective on The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.81.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG traded down $3.00 during midday trading on Friday, reaching $96.09. 1,359,609 shares of the stock were exchanged, compared to its average volume of 1,793,985. The firm has a market cap of $28.57 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.41 and a beta of 0.89. The Hartford Financial Services Group has a twelve month low of $67.05 and a twelve month high of $103.64. The firm has a 50-day simple moving average of $98.45 and a two-hundred day simple moving average of $86.07. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 EPS. As a group, analysts anticipate that The Hartford Financial Services Group will post 10.13 EPS for the current fiscal year.

Insider Activity at The Hartford Financial Services Group

In related news, EVP David C. Robinson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the transaction, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at $735,137.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David C. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at $735,137.64. The disclosure for this sale can be found here. Insiders sold 106,501 shares of company stock valued at $10,141,126 over the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several large investors have recently modified their holdings of HIG. GoalVest Advisory LLC raised its stake in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $28,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of The Hartford Financial Services Group by 189.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares during the last quarter. 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.