The Hartford Financial Services Group (NYSE:HIG) Given New $113.00 Price Target at Citigroup

The Hartford Financial Services Group (NYSE:HIG) had its target price raised by Citigroup from $109.00 to $113.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Roth Mkm boosted their price target on The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a neutral rating in a report on Friday, February 2nd. JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a report on Monday, April 8th. Piper Sandler reissued an overweight rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Royal Bank of Canada boosted their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a sector perform rating in a report on Monday, February 5th. Finally, Morgan Stanley boosted their price target on The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an equal weight rating in a report on Monday. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $105.47.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $97.73 on Tuesday. The stock has a fifty day moving average price of $97.37 and a 200 day moving average price of $84.90. The stock has a market cap of $29.06 billion, a PE ratio of 12.23, a P/E/G ratio of 1.38 and a beta of 0.89. The Hartford Financial Services Group has a 1 year low of $67.05 and a 1 year high of $103.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.62. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The Hartford Financial Services Group’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. Sell-side analysts forecast that The Hartford Financial Services Group will post 10.12 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the sale, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 14,528 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the transaction, the executive vice president now owns 46,792 shares in the company, valued at approximately $4,397,044.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,082 shares of company stock valued at $22,404,321. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GoalVest Advisory LLC lifted its stake in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $26,000. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $27,000. Chilton Capital Management LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $28,000. Finally, Quarry LP lifted its stake in shares of The Hartford Financial Services Group by 113.5% during the fourth quarter. Quarry LP now owns 365 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.