The Hartford Financial Services Group (NYSE:HIG) PT Raised to $144.00 at TD Cowen

The Hartford Financial Services Group (NYSE:HIGGet Free Report) had its target price lifted by equities researchers at TD Cowen to $144.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. TD Cowen’s target price points to a potential upside of 40.13% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. cut shares of The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $94.00 to $91.00 in a research note on Monday, January 8th. Raymond James reissued an “outperform” rating and set a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on shares of 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, Piper Sandler reissued an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $97.88.

Get Our Latest Report on HIG

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $102.76 on Wednesday. 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 stock has a market capitalization of $30.55 billion, a price-to-earnings ratio of 12.86, a P/E/G 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 $103.64. The firm’s 50-day moving average price is $96.24 and its two-hundred day moving average price is $83.80.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.62. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. On average, equities analysts predict that The Hartford Financial Services Group will post 10.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 4,633 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $83.06, for a total transaction of $384,816.98. Following the sale, the chief executive officer now owns 170,180 shares in the company, valued at approximately $14,135,150.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Robert W. Paiano sold 14,528 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares of the company’s stock, valued at approximately $4,397,044.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher Swift sold 4,633 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $83.06, for a total transaction of $384,816.98. Following the completion of the transaction, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at approximately $14,135,150.80. The disclosure for this sale can be found here. Insiders have sold a total of 256,005 shares of company stock worth $22,979,552 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of The Hartford Financial Services Group by 0.8% during the first quarter. BlackRock Inc. now owns 24,739,482 shares of the insurance provider’s stock valued at $1,724,094,000 after acquiring an additional 195,900 shares during the last quarter. Invesco Ltd. raised its stake in shares of The Hartford Financial Services Group by 1.3% during the third quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock valued at $526,242,000 after acquiring an additional 91,911 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 1.2% during the first quarter. Geode Capital Management LLC now owns 6,532,858 shares of the insurance provider’s stock valued at $454,234,000 after acquiring an additional 74,997 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 26.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after acquiring an additional 1,272,290 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of The Hartford Financial Services Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,612,529 shares of the insurance provider’s stock valued at $403,036,000 after acquiring an additional 307,231 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

About The Hartford Financial Services Group

(Get Free Report)

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.

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

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