Wells Fargo & Company Has Lowered Expectations for The Hartford Financial Services Group (NYSE:HIG) Stock Price

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

A number of other research firms have also commented on HIG. BMO Capital Markets lifted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods increased their target price 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. 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 lifted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group upped their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.89.

The Hartford Financial Services Group Trading Down 0.2 %

HIG stock opened at $112.04 on Monday. The business has a fifty day moving average price of $112.72 and a 200 day moving average price of $113.60. 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 Hartford Financial Services Group has a fifty-two week low of $88.81 and a fifty-two week high of $124.90. The stock has a market capitalization of $32.48 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 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%. Analysts expect that The Hartford Financial Services Group will post 11.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions 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 $26,000. Thurston Springer Miller Herd & Titak Inc. lifted 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 purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. grew its holdings in The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. Clean Yield Group acquired a new position in The Hartford Financial Services Group during the third quarter worth approximately $33,000. Finally, BNP Paribas bought a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $35,000. Institutional investors and hedge funds 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.