The Hartford Financial Services Group (NYSE:HIG) PT Raised to $88.00

The Hartford Financial Services Group (NYSE:HIGGet Rating) had its target price boosted by stock analysts at Wells Fargo & Company from $85.00 to $88.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 18.42% from the stock’s current price.

A number of other research firms also recently weighed in on HIG. UBS Group upped their price target on The Hartford Financial Services Group to $95.00 in a research report on Friday, November 4th. The Goldman Sachs Group downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Monday, January 9th. Barclays upped their price objective on The Hartford Financial Services Group from $78.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 1st. Piper Sandler upped their price objective on The Hartford Financial Services Group from $80.00 to $83.00 in a research note on Tuesday, January 10th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.09.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $74.31 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50 day simple moving average of $75.30 and a 200 day simple moving average of $69.34. The Hartford Financial Services Group has a 52-week low of $60.17 and a 52-week high of $79.44. The firm has a market capitalization of $23.64 billion, a PE ratio of 12.95, a P/E/G ratio of 1.31 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The Hartford Financial Services Group had a return on equity of 16.51% and a net margin of 8.82%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the firm earned $1.26 EPS. The Hartford Financial Services Group’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts predict that The Hartford Financial Services Group will post 7.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, President Douglas G. Elliot sold 147,986 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $72.61, for a total transaction of $10,745,263.46. Following the transaction, the president now owns 251,133 shares in the company, valued at approximately $18,234,767.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher Swift sold 430 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $74.05, for a total transaction of $31,841.50. Following the sale, the chief executive officer now directly owns 157,120 shares of the company’s stock, valued at approximately $11,634,736. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Douglas G. Elliot sold 147,986 shares of the stock in a transaction 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 sale, the president now directly owns 251,133 shares in the company, valued at $18,234,767.13. The disclosure for this sale can be found here. Insiders have sold 224,198 shares of company stock worth $16,404,676 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently modified their holdings of HIG. SouthState Corp grew its holdings in shares of 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 worth $25,000 after purchasing an additional 356 shares in the last quarter. Core Alternative Capital grew its holdings in shares of The Hartford Financial Services Group by 706.1% during the 2nd 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 stake in shares of The Hartford Financial Services Group during the 3rd quarter worth $27,000. Trustcore Financial Services LLC acquired a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth $30,000. Finally, Janiczek Wealth Management LLC grew its holdings in shares of The Hartford Financial Services Group by 38.4% during the 3rd quarter. Janiczek Wealth Management LLC now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 163 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Company Profile

(Get Rating)

The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.

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