The Goldman Sachs Group Boosts The Hartford Financial Services Group (NYSE:HIG) Price Target to $105.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective hoisted by The Goldman Sachs Group from $92.00 to $105.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research firms also recently weighed in on HIG. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an overweight rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Evercore ISI upped their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an in-line rating in a research report on Thursday. Finally, TD Cowen upped their price objective on The Hartford Financial Services Group to $144.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of Moderate Buy and an average price target of $101.94.

The Hartford Financial Services Group Stock Up 0.5 %

HIG stock opened at $97.78 on Friday. 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 firm has a market capitalization of $29.07 billion, a PE ratio of 12.24, a PEG ratio of 1.38 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 business’s 50 day simple moving average is $97.07 and its 200 day simple moving average is $84.53.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data 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 firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. As a group, research analysts anticipate that The Hartford Financial Services Group will post 10.12 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.92%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 4,633 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $83.06, for a total value of $384,816.98. Following the completion of the transaction, the chief executive officer now owns 170,180 shares in the company, valued at approximately $14,135,150.80. The disclosure for this sale can be found here. Insiders sold 253,715 shares of company stock valued at $22,789,138 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIG. MV Capital Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 8.9% in the fourth quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 116 shares in the last quarter. Realta Investment Advisors lifted its holdings in shares of The Hartford Financial Services Group by 3.7% in the fourth quarter. Realta Investment Advisors now owns 3,635 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 129 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of The Hartford Financial Services Group by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 25,528 shares of the insurance provider’s stock valued at $2,630,000 after purchasing an additional 131 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of The Hartford Financial Services Group by 8.4% in the fourth quarter. Penserra Capital Management LLC now owns 1,715 shares of the insurance provider’s stock valued at $129,000 after purchasing an additional 133 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 2.4% in the third quarter. Proficio Capital Partners LLC now owns 5,857 shares of the insurance provider’s stock valued at $415,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

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.