The Hartford Financial Services Group (NYSE:HIG) PT Lowered to $111.00 at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its target price reduced by Wells Fargo & Company from $117.00 to $111.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other equities analysts also recently issued reports about the stock. TD Cowen boosted their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Royal Bank of Canada upped their price objective on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a sector perform rating in a report on Monday, February 5th. JPMorgan Chase & Co. upped their price objective on shares of 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. Evercore ISI upped their price objective on shares of 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. Finally, Citigroup upped their price objective on shares of 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of Moderate Buy and a consensus target price of $105.44.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $97.22 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average price of $98.71 and a 200 day moving average price of $86.89. The company has a market capitalization of $28.75 billion, a P/E ratio of 11.05, a PEG ratio of 1.38 and a beta of 0.89. The Hartford Financial Services Group has a 1-year low of $67.05 and a 1-year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 earnings per share. As a group, equities research analysts forecast that The Hartford Financial Services Group will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.93%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other 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 transaction 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 approximately $735,137.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,600,105.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,501 shares of company stock worth $10,141,126. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HIG. GoalVest Advisory LLC raised its stake in shares of The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after buying an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group in the 4th 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. Chilton Capital Management LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at $28,000. Finally, Selway Asset Management acquired a new position in The Hartford Financial Services Group in the 3rd quarter valued at $29,000. 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.