The Hartford Financial Services Group’s (HIG) “Sector Perform” Rating Reiterated at Royal Bank of Canada

The Hartford Financial Services Group (NYSE:HIG)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $125.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 11.57% from the stock’s previous close.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of 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. BMO Capital Markets lifted their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. UBS Group increased their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group increased their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Nine 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.89.

The Hartford Financial Services Group Stock Down 0.2 %

HIG stock opened at $112.04 on Monday. The firm has a market cap of $32.48 billion, a PE ratio of 10.83, a P/E/G ratio of 0.81 and a beta of 0.97. The Hartford Financial Services Group has a 12 month low of $88.81 and a 12 month high of $124.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $112.72 and a 200 day simple moving average of $113.60.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Equities research 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 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 of the company’s stock, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DT Investment Partners LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. grew its stake 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 buying an additional 234 shares during the last quarter. Clean Yield Group bought a new position in The Hartford Financial Services Group in the 3rd quarter worth $33,000. Barrett & Company Inc. lifted its position in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the last quarter. Finally, BNP Paribas bought a new stake in The Hartford Financial Services Group during the third quarter valued at about $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.