The Hartford Financial Services Group (NYSE:HIG) Price Target Lowered to $109.00 at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its price objective lowered by Morgan Stanley from $110.00 to $109.00 in a research report sent to investors on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other brokerages have also recently weighed in on HIG. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a buy rating in a research report on Monday, February 5th. Roth Mkm lifted their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Raymond James reissued an outperform rating and set a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Citigroup boosted their price objective on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $105.81.

The Hartford Financial Services Group Stock Down 3.8 %

NYSE HIG opened at $95.30 on Friday. 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 firm has a 50-day simple moving average of $98.50 and a 200 day simple moving average of $86.45. The Hartford Financial Services Group has a twelve month low of $67.05 and a twelve month high of $103.64. The stock has a market cap of $28.33 billion, a PE ratio of 10.83, a PEG ratio of 1.34 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 21.04%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 EPS. On average, research analysts forecast that The Hartford Financial Services Group will post 10.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a dividend yield of 1.97%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Insider Transactions at The Hartford Financial Services Group

In other news, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the transaction, the senior vice president now directly owns 630 shares in the company, valued at approximately $56,536.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Allison G. Niderno sold 1,516 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $94.55, for a total value of $143,337.80. Following the transaction, the senior vice president now owns 630 shares in the company, valued at approximately $59,566.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now owns 630 shares in the company, valued at approximately $56,536.20. The disclosure for this sale can be found here. Insiders have sold 106,501 shares of company stock worth $10,141,126 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in The Hartford Financial Services Group by 1.3% in the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock valued at $526,242,000 after buying an additional 91,911 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in The Hartford Financial Services Group by 26.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after buying an additional 1,272,290 shares during the last quarter. Victory Capital Management Inc. grew its stake in The Hartford Financial Services Group by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after buying an additional 105,799 shares during the last quarter. LSV Asset Management boosted its holdings in The Hartford Financial Services Group by 3.5% in the 4th quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock valued at $387,583,000 after purchasing an additional 165,190 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in The Hartford Financial Services Group by 2.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock valued at $248,646,000 after purchasing an additional 87,001 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.