The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives Average Rating of “Moderate Buy” from Analysts

The Hartford Financial Services Group, Inc. (NYSE:HIG) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $122.94.

A number of analysts have recently commented on HIG shares. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Piper Sandler raised their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th.

The Hartford Financial Services Group Price Performance

HIG stock opened at $113.00 on Thursday. The Hartford Financial Services Group has a 1 year low of $92.54 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The stock’s 50 day moving average price is $110.93 and its 200 day moving average price is $114.07. The firm has a market cap of $32.76 billion, a P/E ratio of 10.92, a PEG ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side analysts expect that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.84%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its stake in The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after buying an additional 4,449 shares during the period. Lecap Asset Management Ltd. bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth $633,000. Zurich Insurance Group Ltd FI acquired a new position in The Hartford Financial Services Group during the 3rd quarter valued at $19,005,000. Finally, Citigroup Inc. raised its stake in The Hartford Financial Services Group by 3.5% during the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after purchasing an additional 10,566 shares during the last quarter. 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.