Raymond James Reaffirms “Outperform” Rating for The Hartford Financial Services Group (NYSE:HIG)

Raymond James reaffirmed their outperform rating on shares of The Hartford Financial Services Group (NYSE:HIG) in a report released on Monday, Benzinga reports. The firm currently has a $120.00 price target on the insurance provider’s stock, up from their prior price target of $100.00.

Other research analysts have also recently issued reports about the stock. TD Cowen started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, January 10th. They set an outperform rating on the stock. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Piper Sandler reiterated an overweight rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $108.00 to $114.00 and gave the company an outperform rating in a research note on Friday, March 15th. Finally, Royal Bank of Canada increased their price objective on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a sector perform rating in a research note on Monday, February 5th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of Moderate Buy and a consensus price target of $97.06.

The Hartford Financial Services Group Stock Up 0.3 %

HIG stock opened at $102.13 on Monday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $94.98 and its 200 day moving average is $82.98. The stock has a market cap of $30.36 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. The Hartford Financial Services Group has a 1-year low of $67.01 and a 1-year high of $103.27.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, beating 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 business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business earned $2.31 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that The Hartford Financial Services Group will post 9.95 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 2,290 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $83.15, for a total transaction of $190,413.50. Following the completion of the transaction, the chief executive officer now owns 170,180 shares of the company’s stock, valued at $14,150,467. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP David C. Robinson sold 15,000 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now directly owns 8,201 shares in the company, valued at approximately $735,137.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Swift sold 2,290 shares of The Hartford Financial Services Group stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $83.15, for a total value of $190,413.50. Following the completion of the sale, the chief executive officer now owns 170,180 shares of the company’s stock, valued at $14,150,467. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,342 shares of company stock valued at $23,256,523. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of large investors have recently made changes to their positions in HIG. GoalVest Advisory LLC grew its stake in shares of The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $26,000. CVA Family Office LLC bought a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $27,000. Chilton Capital Management LLC bought a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $28,000. Finally, Selway Asset Management bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at about $29,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Company Profile

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.