Morgan Stanley Boosts The Hartford Financial Services Group (NYSE:HIG) Price Target to $130.00

The Hartford Financial Services Group (NYSE:HIG) had its target price increased by stock analysts at Morgan Stanley from $115.00 to $130.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target suggests a potential downside of 1.16% from the stock’s current price.

HIG has been the topic of a number of other reports. Jefferies Financial Group dropped their target price on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods dropped their price objective on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Finally, Piper Sandler boosted their price objective on 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. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.71.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG traded up $0.41 during midday trading on Monday, reaching $131.53. The company’s stock had a trading volume of 197,423 shares, compared to its average volume of 1,565,889. The stock has a market capitalization of $37.37 billion, a P/E ratio of 12.72, a PEG ratio of 1.12 and a beta of 0.70. 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 firm has a 50 day moving average price of $120.66 and a 200-day moving average price of $116.32. The Hartford Financial Services Group has a 12-month low of $98.16 and a 12-month high of $132.49.

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 analysts’ consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. As a group, equities analysts predict that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,429 shares of company stock valued at $13,618,028 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC grew its position in The Hartford Financial Services Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Center for Financial Planning Inc. bought a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at $33,000. Meeder Asset Management Inc. raised its position in The Hartford Financial Services Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 161 shares during the period. Barrett & Company Inc. lifted its stake in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in The Hartford Financial Services Group during the fourth quarter valued at about $33,000. 93.42% of the stock is currently owned by 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.