The Hartford Financial Services Group (NYSE:HIG)'s stock had its "buy" rating reissued by research analysts at Wells Fargo & Company in a research note issued to investors on Friday, AnalystRatings.com reports.
Several other equities analysts have also weighed in on HIG. Raymond James lifted their price objective on The Hartford Financial Services Group from $60.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, April 5th. MKM Partners reiterated a "neutral" rating and set a $70.00 price target (up previously from $65.00) on shares of The Hartford Financial Services Group in a research report on Thursday, March 25th. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $55.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Barclays upped their price target on shares of The Hartford Financial Services Group from $55.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 30th. Finally, Citigroup lifted their target price on The Hartford Financial Services Group from $54.00 to $67.00 in a report on Wednesday, March 31st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. The Hartford Financial Services Group has a consensus rating of "Buy" and an average target price of $67.77.
Shares of NYSE:HIG opened at $66.65 on Friday. The firm has a fifty day moving average price of $65.58 and a 200 day moving average price of $51.61. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Hartford Financial Services Group has a fifty-two week low of $30.26 and a fifty-two week high of $69.94.
The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, April 22nd. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.75 by ($0.19). The Hartford Financial Services Group had a return on equity of 12.19% and a net margin of 8.50%. The business had revenue of $5.30 billion for the quarter, compared to analysts' expectations of $5.18 billion. During the same period in the previous year, the company earned $1.34 EPS. The Hartford Financial Services Group's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that The Hartford Financial Services Group will post 5.31 earnings per share for the current year.
In related news, EVP Jonathan R. Bennett sold 1,865 shares of the firm's stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $68.00, for a total transaction of $126,820.00. Following the transaction, the executive vice president now directly owns 25,641 shares in the company, valued at approximately $1,743,588. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP William A. Bloom sold 33,019 shares of the stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $65.22, for a total value of $2,153,499.18. Following the completion of the sale, the executive vice president now owns 70,372 shares of the company's stock, valued at approximately $4,589,661.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,332 shares of company stock valued at $12,064,527. 1.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC grew its holdings in The Hartford Financial Services Group by 98.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 226,231 shares of the insurance provider's stock valued at $8,339,000 after purchasing an additional 112,446 shares in the last quarter. Paces Ferry Wealth Advisors LLC bought a new position in The Hartford Financial Services Group during the third quarter worth $81,000. Sei Investments Co. raised its position in shares of The Hartford Financial Services Group by 3.3% during the third quarter. Sei Investments Co. now owns 116,203 shares of the insurance provider's stock worth $4,327,000 after acquiring an additional 3,729 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of The Hartford Financial Services Group by 0.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 160,343 shares of the insurance provider's stock worth $5,910,000 after purchasing an additional 1,407 shares during the period. Finally, Burney Co. lifted its holdings in shares of The Hartford Financial Services Group by 22.5% in the third quarter. Burney Co. now owns 13,129 shares of the insurance provider's stock valued at $484,000 after purchasing an additional 2,414 shares in the last quarter. Institutional investors own 90.48% of the company's stock.
About The Hartford Financial Services Group
The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, continental Europe, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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