The Hartford Financial Services Group (NYSE:HIG) Given New $126.00 Price Target at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its price objective cut by analysts at Wells Fargo & Company from $130.00 to $126.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 12.46% from the stock’s current price.

Several other brokerages have also recently weighed in on HIG. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.89.

The Hartford Financial Services Group Trading Down 0.2 %

Shares of The Hartford Financial Services Group stock opened at $112.04 on Monday. 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 capitalization of $32.48 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.81 and a beta of 0.97. The firm’s 50-day moving average price is $112.72 and its two-hundred day moving average price is $113.60. The Hartford Financial Services Group has a 12-month low of $88.81 and a 12-month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, analysts forecast that The Hartford Financial Services Group will post 11.46 earnings per share 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 dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Financial Services Group

A number of hedge funds and other institutional investors have recently bought and sold shares of HIG. Sanctuary Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the second quarter worth $2,871,000. Czech National Bank increased its stake in The Hartford Financial Services Group by 5.9% in the 3rd quarter. Czech National Bank now owns 59,690 shares of the insurance provider’s stock worth $7,020,000 after acquiring an additional 3,331 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of The Hartford Financial Services Group by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 9,483 shares of the insurance provider’s stock valued at $1,115,000 after acquiring an additional 1,884 shares in the last quarter. McLean Asset Management Corp bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at about $208,000. Finally, Clean Yield Group purchased a new position in shares of The Hartford Financial Services Group during the third quarter worth about $33,000. 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.