The Hartford Financial Services Group, Inc. (NYSE:HIG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $105.44.

A number of research firms have recently issued reports on HIG. Morgan Stanley cut their price objective on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. UBS Group upped their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Royal Bank of Canada upped their price objective on The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, February 5th. Roth Mkm upped their price objective on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Citigroup upped their price objective on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $97.49 on Friday. The Hartford Financial Services Group has a 52 week low of $67.05 and a 52 week high of $103.64. The business has a 50-day simple moving average of $98.77 and a 200 day simple moving average of $86.97. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The stock has a market cap of $28.83 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.38 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts forecast that The Hartford Financial Services Group will post 10.03 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the transaction, the executive vice president now owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Adin M. Tooker sold 8,206 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $95.60, for a total value of $784,493.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Insiders sold 106,501 shares of company stock valued at $10,141,126 in the last 90 days. 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 company. MV Capital Management Inc. raised its position in shares of The Hartford Financial Services Group by 8.9% in the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock worth $114,000 after acquiring an additional 116 shares in the last quarter. United Asset Strategies Inc. grew its stake in shares of The Hartford Financial Services Group by 4.3% in the 1st quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock worth $302,000 after buying an additional 121 shares during the last quarter. Realta Investment Advisors grew its stake in shares of The Hartford Financial Services Group by 3.7% in the 4th quarter. Realta Investment Advisors now owns 3,635 shares of the insurance provider’s stock worth $292,000 after buying an additional 129 shares during the last quarter. Gulf International Bank UK Ltd grew its stake in shares of The Hartford Financial Services Group by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 25,528 shares of the insurance provider’s stock worth $2,630,000 after buying an additional 131 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of The Hartford Financial Services Group by 4.7% in the 4th quarter. Perigon Wealth Management LLC now owns 3,204 shares of the insurance provider’s stock worth $258,000 after buying an additional 143 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

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.