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

Royal Bank of Canada reissued their sector perform rating on shares of The Hartford Financial Services Group (NYSE:HIG) in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $105.00 price target on the insurance provider’s stock.

Several other analysts have also commented on HIG. Piper Sandler reiterated an overweight rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. The Goldman Sachs Group increased their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a buy rating in a research report on Thursday, June 13th. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a neutral rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. Finally, Evercore ISI increased their price target on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an in-line rating in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $106.71.

The Hartford Financial Services Group Trading Down 2.2 %

Shares of The Hartford Financial Services Group stock opened at $100.54 on Friday. The Hartford Financial Services Group has a 12-month low of $68.82 and a 12-month high of $105.20. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The stock has a market cap of $29.74 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. The company has a 50-day moving average of $100.65 and a two-hundred day moving average of $94.43.

The Hartford Financial Services Group (NYSE:HIG) last issued 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 net margin of 10.87% and a return on equity of 20.64%. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the business posted $1.68 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts anticipate that The Hartford Financial Services Group will post 9.91 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be issued a $0.47 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.87%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Insider Transactions at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was 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 owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC grew its holdings in The Hartford Financial Services Group by 6.8% during the 3rd quarter. LPL Financial LLC now owns 107,297 shares of the insurance provider’s stock valued at $7,608,000 after purchasing an additional 6,840 shares in the last quarter. Mariner LLC increased its position in shares of The Hartford Financial Services Group by 8.7% during the third quarter. Mariner LLC now owns 37,167 shares of the insurance provider’s stock worth $2,636,000 after acquiring an additional 2,962 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of The Hartford Financial Services Group in the third quarter worth about $2,722,000. Treasurer of the State of North Carolina boosted its holdings in The Hartford Financial Services Group by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 144,949 shares of the insurance provider’s stock valued at $10,278,000 after purchasing an additional 718 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in The Hartford Financial Services Group by 117.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 24,875 shares of the insurance provider’s stock valued at $1,764,000 after purchasing an additional 13,461 shares in the last quarter. 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.