The Hartford Financial Services Group (NYSE:HIG) Coverage Initiated by Analysts at Oppenheimer

Equities researchers at Oppenheimer started coverage on shares of The Hartford Financial Services Group (NYSE:HIG) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set a “market perform” rating on the insurance provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Citigroup reduced their price target on shares of The Hartford Financial Services Group from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. StockNews.com initiated coverage on shares of The Hartford Financial Services Group in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Piper Sandler upped their price objective on shares of The Hartford Financial Services Group from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, July 31st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of The Hartford Financial Services Group in a report on Wednesday, October 4th. They issued a “hold” rating and a $85.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $85.43.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $75.36 on Thursday. The firm has a market cap of $22.67 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.30 and a beta of 0.82. The Hartford Financial Services Group has a 12-month low of $64.25 and a 12-month high of $79.44. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $72.27 and its two-hundred day simple moving average is $71.78.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.34. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates 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 company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. As a group, equities analysts expect that The Hartford Financial Services Group will post 8.16 EPS for the current year.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Stephanie C. Bush sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 10,063 shares of the company’s stock, valued at $731,982.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 6,003 shares of company stock valued at $436,159. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of The Hartford Financial Services Group by 7.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock worth $1,271,000 after acquiring an additional 1,185 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in The Hartford Financial Services Group by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock valued at $284,000 after buying an additional 330 shares in the last quarter. Prudential PLC bought a new stake in The Hartford Financial Services Group during the 1st quarter valued at about $674,000. Cetera Investment Advisers lifted its holdings in The Hartford Financial Services Group by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after buying an additional 5,278 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in The Hartford Financial Services Group by 235.4% during the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock valued at $77,000 after purchasing an additional 751 shares during the period. Institutional investors own 90.81% of the company’s stock.

About The Hartford Financial Services Group

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.