The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $145.00 at Piper Sandler

The Hartford Financial Services Group (NYSE:HIG) had its target price raised by stock analysts at Piper Sandler from $130.00 to $145.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective indicates a potential upside of 17.19% from the company’s previous close.

Several other research analysts also recently commented on the stock. Royal Bank of Canada reissued 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. Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Finally, Raymond James increased their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.61.

The Hartford Financial Services Group Price Performance

HIG opened at $123.73 on Tuesday. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.12 and a beta of 0.91. 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 firm has a 50-day moving average price of $115.75 and a 200-day moving average price of $115.33. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results 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 net margin of 11.72% and a return on equity of 19.55%. Equities analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 98,061 shares of the firm’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 directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. increased its position in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Spurstone Advisory Services LLC purchased a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. purchased a new stake in The Hartford Financial Services Group during the fourth quarter worth $35,000. Finally, DT Investment Partners LLC boosted its position in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares in 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.