The Hartford Financial Services Group (NYSE:HIG) Given New $133.00 Price Target at Keefe, Bruyette & Woods

The Hartford Financial Services Group (NYSE:HIG) had its price target trimmed by Keefe, Bruyette & Woods from $140.00 to $133.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

HIG has been the topic of several other research reports. Wells Fargo & Company lowered 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 report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler raised their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Finally, StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.24.

The Hartford Financial Services Group Trading Down 0.2 %

NYSE HIG traded down $0.19 on Wednesday, reaching $116.18. 844,664 shares of the company were exchanged, compared to its average volume of 1,585,812. The stock has a market capitalization of $33.16 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. 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 business’s fifty day moving average price is $116.47 and its 200 day moving average price is $115.35. The Hartford Financial Services Group has a fifty-two week low of $94.47 and a fifty-two week high of $125.08.

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 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%. Analysts forecast that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the business’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is owned by company insiders.

Institutional Trading of The Hartford Financial Services Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at $416,340,000. GAMMA Investing LLC lifted its stake in The Hartford Financial Services Group by 14,049.5% in the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider’s stock worth $1,761,930,000 after purchasing an additional 1,413,945 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in shares of The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after acquiring an additional 881,224 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in The Hartford Financial Services Group by 48.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock valued at $247,761,000 after buying an additional 735,170 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

About The Hartford Financial Services Group

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.