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

The Hartford Financial Services Group (NYSE:HIG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets boosted their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reaffirmed 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. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Trading Up 0.7 %

Shares of HIG opened at $119.73 on Tuesday. The firm has a market cap of $34.17 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 has a 1 year low of $94.47 and a 1 year high of $124.90. The company has a 50 day simple moving average of $113.89 and a two-hundred day simple moving average of $114.99.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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 analysts expect that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after buying an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its stake in The Hartford Financial Services Group by 3.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after acquiring an additional 4,449 shares during the period. Horizon Advisory Services Inc. purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth about $277,000. Zurich Insurance Group Ltd FI bought a new position in The Hartford Financial Services Group during the 3rd quarter worth about $19,005,000. Finally, Citigroup Inc. increased its position in The Hartford Financial Services Group by 3.5% during the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after purchasing an additional 10,566 shares during the period. 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.