The Hartford Financial Services Group (NYSE:HIG) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of The Hartford Financial Services Group (NYSE:HIG) in a research note published on Monday morning,Benzinga reports. The firm currently has a $125.00 price objective on the insurance provider’s stock.

Other equities analysts also recently issued reports about the company. UBS Group raised their price objective on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Finally, Piper Sandler upped their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $113.54 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The Hartford Financial Services Group has a one year low of $89.04 and a one year high of $124.90. The company has a 50 day moving average price of $112.51 and a 200 day moving average price of $113.68.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Sell-side analysts anticipate that The Hartford Financial Services Group will post 11.46 EPS for the current year.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of institutional investors have recently modified their holdings of HIG. AustralianSuper Pty Ltd increased its holdings in The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after buying an additional 881,224 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after acquiring an additional 709,324 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of The Hartford Financial Services Group by 31,680.4% in the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after acquiring an additional 691,900 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock valued at $632,000 after acquiring an additional 626,304 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Institutional investors and hedge funds 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.