The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $106.71 Consensus Target Price from Analysts

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $107.50.

A number of analysts have recently weighed in on HIG shares. TD Cowen upped their price target 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. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Argus increased their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $105.00 price objective on shares of The Hartford Financial Services Group in a research note on Friday, June 28th.

The Hartford Financial Services Group Stock Up 0.4 %

Shares of HIG opened at $101.75 on Wednesday. The Hartford Financial Services Group has a 52 week low of $68.82 and a 52 week high of $105.20. The firm has a market cap of $30.09 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The firm’s 50-day simple moving average is $101.04 and its 200 day simple moving average is $95.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts forecast that The Hartford Financial Services Group will post 9.86 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.85%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Insider Activity

In other news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,499 shares of company stock valued at $9,449,309. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HIG. GoalVest Advisory LLC increased its stake in shares of The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter worth about $26,000. New Covenant Trust Company N.A. bought a new stake in The Hartford Financial Services Group during the 1st quarter valued at about $26,000. CVA Family Office LLC bought a new stake in The Hartford Financial Services Group during the 4th quarter valued at about $27,000. Finally, Chilton Capital Management LLC bought a new stake in The Hartford Financial Services Group during the 4th quarter valued at about $28,000. 93.42% of the stock is currently owned by institutional investors.

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.