The Hartford Financial Services Group (NYSE:HIG) Earns Sector Perform Rating from Royal Bank of Canada

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

A number of other equities analysts have also recently weighed in on HIG. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. BMO Capital Markets raised their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Piper Sandler upped 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 report on Monday. Jefferies Financial Group raised their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $122.89.

The Hartford Financial Services Group Stock Down 0.2 %

NYSE HIG opened at $112.04 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group has a fifty-two week low of $88.81 and a fifty-two week high of $124.90. The business has a 50 day moving average price of $112.72 and a two-hundred day moving average price of $113.60. The stock 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 (NYSE:HIG) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. As a group, sell-side analysts predict that The Hartford Financial Services Group will post 11.46 EPS for the current fiscal year.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently added to or reduced their stakes in HIG. Illinois Municipal Retirement Fund increased its holdings in shares of The Hartford Financial Services Group by 5.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 166,181 shares of the insurance provider’s stock valued at $18,180,000 after purchasing an additional 7,995 shares during the period. Horizon Advisory Services Inc. bought a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $277,000. IFP Advisors Inc lifted its stake in shares of The Hartford Financial Services Group by 5.5% in the 4th quarter. IFP Advisors Inc now owns 2,775 shares of the insurance provider’s stock worth $304,000 after acquiring an additional 144 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $3,920,000. Finally, Howard Capital Management Inc. raised its holdings in The Hartford Financial Services Group by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 108 shares in the last quarter. 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.