The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $115.00 at Piper Sandler

The Hartford Financial Services Group (NYSE:HIGGet Free Report) had its price objective upped by research analysts at Piper Sandler from $97.00 to $115.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 27.99% from the stock’s current price.

A number of other equities analysts have also commented on HIG. Raymond James boosted their price objective on shares of The Hartford Financial Services Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley boosted their price objective on shares of The Hartford Financial Services Group from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Roth Mkm boosted their price objective on shares of 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. Wells Fargo & Company cut their target price on shares of The Hartford Financial Services Group from $89.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Finally, JPMorgan Chase & Co. lowered shares of The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and cut their target price for the company from $94.00 to $91.00 in a research note on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.60.

Get Our Latest Report on The Hartford Financial Services Group

The Hartford Financial Services Group Stock Up 0.2 %

Shares of The Hartford Financial Services Group stock opened at $89.85 on Tuesday. The company has a fifty day moving average price of $82.44 and a 200 day moving average price of $76.25. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group has a twelve month low of $64.25 and a twelve month high of $91.85. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the company earned $2.31 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that The Hartford Financial Services Group will post 9.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher Swift sold 47,033 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $80.41, for a total value of $3,781,923.53. Following the completion of the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at $13,684,173.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 322,718 shares of company stock worth $26,604,904 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIG. Cambridge Investment Research Advisors Inc. lifted its stake in The Hartford Financial Services Group by 7.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock valued at $1,271,000 after purchasing an additional 1,185 shares during the last quarter. D.A. Davidson & CO. lifted its stake in The Hartford Financial Services Group by 9.1% during the first quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock valued at $284,000 after purchasing an additional 330 shares during the last quarter. Prudential PLC acquired a new stake in The Hartford Financial Services Group during the first quarter valued at approximately $674,000. Cetera Investment Advisers lifted its position in shares of The Hartford Financial Services Group by 88.6% in the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 5,278 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of The Hartford Financial Services Group by 235.4% in the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 751 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for The Hartford Financial Services Group (NYSE:HIG)

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