The Hartford Financial Services Group (NYSE:HIG) PT Raised to $90.00 at Raymond James

The Hartford Financial Services Group (NYSE:HIG) had its target price upped by Raymond James from $85.00 to $90.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Raymond James’ target price would suggest a potential upside of 21.87% from the company’s previous close.

Several other brokerages have also recently commented on HIG. Deutsche Bank Aktiengesellschaft began coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, October 4th. They set a “hold” rating and a $85.00 target price for the company. Piper Sandler upped their price objective on shares of The Hartford Financial Services Group from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com began coverage on shares of The Hartford Financial Services Group in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $89.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Finally, Morgan Stanley upped their price objective on shares of The Hartford Financial Services Group from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.07.

The Hartford Financial Services Group Stock Up 0.5 %

NYSE:HIG opened at $73.85 on Tuesday. The stock’s fifty day moving average price is $71.81 and its two-hundred day moving average price is $71.47. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 1.29 and a beta of 0.85. The Hartford Financial Services Group has a 52-week low of $64.25 and a 52-week high of $79.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, October 26th. The insurance provider reported $2.29 EPS for the quarter, beating the consensus estimate of $1.95 by $0.34. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.17 billion. The Hartford Financial Services Group had a net margin of 9.62% and a return on equity of 19.05%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS. On average, analysts anticipate that The Hartford Financial Services Group will post 8.04 EPS for the current year.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Stephanie C. Bush sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.74, for a total transaction of $363,700.00. Following the completion of the sale, the executive vice president now directly owns 10,063 shares in the company, valued at $731,982.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 6,008 shares of company stock worth $436,037 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds have recently bought and sold shares of HIG. Cambridge Investment Research Advisors Inc. increased its holdings in shares of The Hartford Financial Services Group by 7.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock worth $1,271,000 after purchasing an additional 1,185 shares during the period. D.A. Davidson & CO. increased its holdings in shares of The Hartford Financial Services Group by 9.1% during the first quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 330 shares during the period. Prudential PLC bought a new position in shares of The Hartford Financial Services Group during the first quarter worth approximately $674,000. Cetera Investment Advisers increased its holdings in shares of The Hartford Financial Services Group by 88.6% during the first quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock worth $807,000 after purchasing an additional 5,278 shares during the period. Finally, Zions Bancorporation N.A. increased its holdings in shares of The Hartford Financial Services Group by 235.4% during the first quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 751 shares during the period. 90.81% 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 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, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.