The Hartford Financial Services Group (NYSE:HIG) Raised to “Buy” at StockNews.com

The Hartford Financial Services Group (NYSE:HIG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other analysts also recently issued reports on HIG. Jefferies Financial Group decreased their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Piper Sandler lifted their price target 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. Raymond James lifted their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased 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 note on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.87.

The Hartford Financial Services Group Stock Up 0.4 %

Shares of NYSE HIG opened at $122.65 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $34.85 billion, a P/E ratio of 11.85, a PEG ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a 1 year low of $96.31 and a 1 year high of $125.08. The firm has a 50-day simple moving average of $118.23 and a two-hundred day simple moving average of $115.51.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. Research analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,086 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This represents a 63.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction on Monday, March 17th. The stock was 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 owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,429 shares of company stock worth $13,618,028 in the last three months. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Horizon Advisory Services Inc. purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $277,000. Assenagon Asset Management S.A. raised its stake in The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares during the last quarter. Victory Capital Management Inc. raised its stake in The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after buying an additional 202,487 shares during the last quarter. Suncoast Equity Management purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $311,000. Finally, Empowered Funds LLC raised its stake in The Hartford Financial Services Group by 62.1% in the fourth quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider’s stock valued at $3,131,000 after buying an additional 10,964 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other 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.