The Hartford Financial Services Group (NYSE:HIG) Given New $125.00 Price Target at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its price target cut by research analysts at Wells Fargo & Company from $126.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.81% from the company’s current price.

HIG has been the topic of several other research reports. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.24.

The Hartford Financial Services Group Stock Performance

HIG traded down $0.43 on Thursday, hitting $115.94. 785,855 shares of the company’s stock were exchanged, compared to its average volume of 1,585,575. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $33.09 billion, a PE ratio of 11.21, a P/E/G ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $125.08. The stock has a fifty day moving average of $116.47 and a two-hundred day moving average of $115.35.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data 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%. On average, research analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of 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 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. increased its holdings in shares of The Hartford Financial Services Group by 46.5% during 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 in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. Finally, DT Investment Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 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.