The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $125.23 and last traded at $125.21, with a volume of 638989 shares traded. The stock had previously closed at $121.84.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on HIG shares. Jefferies Financial Group lowered their target price on The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Seven investment 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's stock. According to MarketBeat, The Hartford Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.87.
Read Our Latest Report on The Hartford Financial Services Group
The Hartford Financial Services Group Stock Up 0.1 %
The stock has a fifty day moving average of $118.79 and a two-hundred day moving average of $115.54. The firm has a market capitalization of $35.75 billion, a price-to-earnings ratio of 12.16, a P/E/G 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 Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping 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 was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.34 EPS. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.
The Hartford Financial Services Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.65%. The Hartford Financial Services Group's dividend payout ratio is presently 20.74%.
Insider Transactions at The Hartford Financial Services Group
In related news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 trade represents a 31.72 % 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, 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 value of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock valued at $13,618,028 over the last ninety days. 1.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On The Hartford Financial Services Group
A number of hedge funds have recently modified their holdings of the stock. World Investment Advisors LLC bought a new position in The Hartford Financial Services Group during the third quarter worth about $661,000. Wilmington Savings Fund Society FSB purchased a new stake in The Hartford Financial Services Group during the third quarter valued at about $514,000. Tidal Investments LLC lifted its position in The Hartford Financial Services Group by 73.0% in the 3rd quarter. Tidal Investments LLC now owns 17,774 shares of the insurance provider's stock worth $2,090,000 after buying an additional 7,500 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of The Hartford Financial Services Group by 4.0% during the 3rd quarter. Synovus Financial Corp now owns 10,029 shares of the insurance provider's stock valued at $1,180,000 after purchasing an additional 384 shares during the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new position in shares of The Hartford Financial Services Group in the third quarter worth about $420,000. Institutional investors own 93.42% of the company's stock.
The Hartford Financial Services Group Company Profile
(
Get Free Report)
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.
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