The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives Average Recommendation of “Moderate Buy” from Analysts

The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $82.82.

HIG has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating for the company in a report on Monday, August 1st. UBS Group boosted their price target on shares of The Hartford Financial Services Group to $95.00 in a report on Friday, November 4th. Barclays boosted their price target on shares of The Hartford Financial Services Group from $78.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 1st. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. Finally, Morgan Stanley boosted their price objective on The Hartford Financial Services Group from $73.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, August 19th.

Insider Activity at The Hartford Financial Services Group

In other news, President Douglas G. Elliot sold 147,986 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $72.61, for a total value of $10,745,263.46. Following the transaction, the president now owns 251,133 shares of the company’s stock, valued at $18,234,767.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other The Hartford Financial Services Group news, President Douglas G. Elliot sold 19,565 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $72.55, for a total value of $1,419,440.75. Following the sale, the president now owns 251,133 shares of the company’s stock, valued at approximately $18,219,699.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Douglas G. Elliot sold 147,986 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $72.61, for a total value of $10,745,263.46. Following the completion of the transaction, the president now owns 251,133 shares of the company’s stock, valued at approximately $18,234,767.13. The disclosure for this sale can be found here. Insiders have sold 182,305 shares of company stock valued at $13,256,665 over the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of large investors have recently bought and sold shares of the business. SouthState Corp increased its position in The Hartford Financial Services Group by 1,369.2% during the 2nd quarter. SouthState Corp now owns 382 shares of the insurance provider’s stock valued at $25,000 after buying an additional 356 shares in the last quarter. Core Alternative Capital boosted its position in The Hartford Financial Services Group by 706.1% during the second quarter. Core Alternative Capital now owns 395 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 346 shares in the last quarter. Gradient Investments LLC acquired a new position in shares of The Hartford Financial Services Group during the third quarter valued at approximately $27,000. Trustcore Financial Services LLC acquired a new position in shares of The Hartford Financial Services Group during the second quarter valued at approximately $30,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of The Hartford Financial Services Group during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $73.08 on Friday. The firm has a market capitalization of $23.25 billion, a PE ratio of 12.73, a PEG ratio of 1.48 and a beta of 0.92. The company’s 50-day moving average is $67.62 and its 200-day moving average is $67.24. The Hartford Financial Services Group has a fifty-two week low of $60.17 and a fifty-two week high of $76.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last released its quarterly earnings results on Thursday, October 27th. The insurance provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.54 billion. The Hartford Financial Services Group had a return on equity of 16.51% and a net margin of 8.82%. The Hartford Financial Services Group’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. Equities analysts forecast that The Hartford Financial Services Group will post 7.06 EPS for the current year.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Thursday, December 1st will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.39. This represents a $1.70 annualized dividend and a dividend yield of 2.33%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 26.83%.

The Hartford Financial Services Group Company Profile

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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Analyst Recommendations for The Hartford Financial Services Group (NYSE:HIG)

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