The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $109.00 by Analysts at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its price target cut by Morgan Stanley from $110.00 to $109.00 in a research report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen lifted their price target on shares of The Hartford Financial Services Group to $144.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Finally, UBS Group upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a buy rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $105.81.

The Hartford Financial Services Group Trading Down 3.8 %

Shares of NYSE:HIG opened at $95.30 on Friday. The Hartford Financial Services Group has a 12-month low of $67.05 and a 12-month high of $103.64. The stock has a market cap of $28.33 billion, a PE ratio of 10.83, a P/E/G ratio of 1.40 and a beta of 0.89. The business has a 50 day moving average of $98.50 and a 200-day moving average of $86.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share 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 21.04%. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that The Hartford Financial Services Group will post 10.13 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.97%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total value of $3,713,269.30. Following the completion of the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David C. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the transaction, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at $735,137.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,501 shares of company stock worth $10,141,126. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in The Hartford Financial Services Group by 1.3% in the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock worth $526,242,000 after buying an additional 91,911 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in The Hartford Financial Services Group by 26.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after purchasing an additional 1,272,290 shares in the last quarter. Victory Capital Management Inc. lifted its stake in The Hartford Financial Services Group by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock worth $421,832,000 after purchasing an additional 105,799 shares in the last quarter. LSV Asset Management lifted its stake in The Hartford Financial Services Group by 3.5% in the 4th quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock worth $387,583,000 after purchasing an additional 165,190 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in The Hartford Financial Services Group by 2.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock worth $248,646,000 after purchasing an additional 87,001 shares in the last quarter. 93.42% of the stock is owned by 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.