The Hartford Financial Services Group (NYSE:HIG) Given New $135.00 Price Target at Raymond James

The Hartford Financial Services Group (NYSE:HIG) had its price objective raised by Raymond James from $125.00 to $135.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Other research analysts also recently issued reports about the stock. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Piper Sandler raised their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.78.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $123.73 on Monday. 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 market cap of $35.31 billion, a PE ratio of 11.95, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group has a 1 year low of $94.47 and a 1 year high of $124.90. The stock’s fifty day moving average price is $115.75 and its two-hundred day moving average price is $115.33.

The Hartford Financial Services Group (NYSE:HIG) last announced 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 return on equity of 19.55% and a net margin of 11.72%. On average, equities research analysts forecast that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several institutional investors have recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC lifted its stake in shares of The Hartford Financial Services Group by 3.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 90 shares during the last quarter. Barrett & Company Inc. increased its stake in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock valued at $489,000 after acquiring an additional 97 shares during the last quarter. Lifestyle Asset Management Inc. raised its position in The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 98 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in The Hartford Financial Services Group by 26.7% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 100 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

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.