The Hartford Financial Services Group (NYSE:HIG) Given New $140.00 Price Target at Keefe, Bruyette & Woods

The Hartford Financial Services Group (NYSE:HIG) had its target price hoisted by Keefe, Bruyette & Woods from $139.00 to $140.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

Several other equities analysts also recently weighed in on HIG. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler increased their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America increased their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Stock Performance

HIG opened at $113.52 on Wednesday. The Hartford Financial Services Group has a 52-week low of $89.04 and a 52-week high of $124.90. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $32.91 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The firm’s 50-day moving average price is $112.10 and its 200-day moving average price is $113.67.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, equities analysts anticipate that The Hartford Financial Services Group will post 11.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HIG. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Clean Yield Group purchased a new position in The Hartford Financial Services Group in the 3rd quarter valued at $33,000. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. Finally, BNP Paribas purchased a new position in The Hartford Financial Services Group in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.