The Hartford Financial Services Group (NYSE:HIG) Given New $111.00 Price Target at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its target price decreased by Wells Fargo & Company from $117.00 to $111.00 in a research note released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley lowered their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an equal weight rating on the stock in a research report on Friday. Keefe, Bruyette & Woods increased their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Raymond James reaffirmed an outperform rating and set a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Roth Mkm upped their price objective on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a neutral rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of Moderate Buy and a consensus price target of $105.44.

The Hartford Financial Services Group Trading Up 1.9 %

Shares of The Hartford Financial Services Group stock opened at $97.07 on Monday. The Hartford Financial Services Group has a 12-month low of $67.05 and a 12-month high of $103.64. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $98.58 and its 200-day moving average is $86.64. The stock has a market cap of $28.71 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.35 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. Equities research analysts predict that The Hartford Financial Services Group will post 10.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP David C. Robinson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the transaction, the executive vice president now directly owns 8,201 shares in the company, valued at approximately $735,137.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. Insiders sold 106,501 shares of company stock valued at $10,141,126 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. GoalVest Advisory LLC raised its holdings 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 worth $25,000 after buying an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $26,000. CVA Family Office LLC acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $27,000. Chilton Capital Management LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth about $28,000. Finally, Selway Asset Management acquired a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Financial Services Group

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.