The Hartford Financial Services Group (NYSE:HIG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

HIG has been the topic of several other reports. Raymond James boosted their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Finally, Barclays boosted their target price on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.87.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $121.97 on Tuesday. The firm’s fifty day simple moving average is $118.40 and its 200-day simple moving average is $115.54. The stock has a market capitalization of $34.65 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a 12 month low of $96.31 and a 12 month high of $125.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The Hartford Financial Services Group’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 EPS. As a group, equities analysts forecast that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.71%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.74%.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock worth $13,618,028 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Park Square Financial Group LLC lifted its holdings in The Hartford Financial Services Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in The Hartford Financial Services Group in the 1st quarter valued at about $33,000. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. Finally, Spurstone Advisory Services LLC purchased a new position in The Hartford Financial Services Group in the 4th quarter valued at about $33,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

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.