The Hartford Financial Services Group, Inc. (NYSE:HIG) Given Average Rating of “Buy” by Brokerages

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) have received a consensus rating of “Buy” from the fourteen brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $80.31.

Several equities research analysts have commented on HIG shares. Raymond James boosted their price objective on The Hartford Financial Services Group from $80.00 to $85.00 in a research note on Tuesday, May 3rd. StockNews.com started coverage on The Hartford Financial Services Group in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Barclays upped their target price on shares of The Hartford Financial Services Group from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Citigroup began coverage on shares of The Hartford Financial Services Group in a research note on Monday. They issued a “buy” rating and a $81.00 price target on the stock. Finally, Morgan Stanley dropped their price objective on shares of The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday.

In other news, SVP Scott R. Lewis sold 5,000 shares of the company’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the transaction, the senior vice president now owns 20,121 shares of the company’s stock, valued at approximately $1,509,075. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David C. Robinson sold 14,743 shares of the company’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $73.02, for a total value of $1,076,533.86. Following the completion of the transaction, the executive vice president now directly owns 1 shares in the company, valued at approximately $73.02. The disclosure for this sale can be found here. Insiders have sold 122,597 shares of company stock worth $8,980,210 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toroso Investments LLC increased its holdings in The Hartford Financial Services Group by 3.8% during the 1st quarter. Toroso Investments LLC now owns 4,293 shares of the insurance provider’s stock worth $308,000 after purchasing an additional 159 shares during the period. Magnolia Wealth Management LLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth about $2,189,000. Worldquant Millennium Advisors LLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth about $19,468,000. Walleye Capital LLC increased its holdings in The Hartford Financial Services Group by 331.5% during the 1st quarter. Walleye Capital LLC now owns 19,760 shares of the insurance provider’s stock worth $1,419,000 after purchasing an additional 15,181 shares during the period. Finally, Wealthfront Advisers LLC increased its holdings in The Hartford Financial Services Group by 16.6% during the 1st quarter. Wealthfront Advisers LLC now owns 35,905 shares of the insurance provider’s stock worth $2,578,000 after purchasing an additional 5,104 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

HIG stock opened at $70.70 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The Hartford Financial Services Group has a 52-week low of $59.86 and a 52-week high of $78.17. The company’s 50-day simple moving average is $71.54 and its 200-day simple moving average is $70.42. The firm has a market cap of $23.25 billion, a P/E ratio of 9.72, a PEG ratio of 1.39 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last released its quarterly earnings results on Thursday, April 28th. The insurance provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.10. The firm had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.60 billion. The Hartford Financial Services Group had a net margin of 11.39% and a return on equity of 14.84%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. On average, analysts anticipate that The Hartford Financial Services Group will post 6.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st will be paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.18%.

About The Hartford Financial Services Group (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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