Raymond James Increases The Hartford Financial Services Group (NYSE:HIG) Price Target to $135.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective raised by equities research analysts at Raymond James from $125.00 to $135.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Raymond James’ target price indicates a potential upside of 9.36% from the stock’s previous close.

Several other equities research analysts also recently commented on HIG. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.78.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG traded up $1.23 during midday trading on Monday, reaching $123.45. The company’s stock had a trading volume of 365,396 shares, compared to its average volume of 1,571,531. The Hartford Financial Services Group has a one year low of $94.47 and a one year high of $124.90. The company has a market cap of $35.23 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company has a 50 day moving average price of $115.52 and a 200 day moving average price of $115.27. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. On average, equities research analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. increased its position 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 worth $32,000 after buying an additional 93 shares during the period. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. Finally, DT Investment Partners LLC grew its stake in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

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.