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

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG - Free Report) from a hold rating to a buy rating in a report issued on Tuesday.

Several other research analysts also recently commented on the company. Piper Sandler lifted their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. upped their price objective on shares of 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. Raymond James raised their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Keefe, Bruyette & Woods decreased their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $126.87.

The Hartford Financial Services Group Trading Down 0.6 %

NYSE:HIG traded down $0.70 during mid-day trading on Tuesday, hitting $121.97. The company had a trading volume of 1,771,354 shares, compared to its average volume of 1,571,039. The firm has a market cap of $34.65 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group has a fifty-two week low of $96.31 and a fifty-two week high of $125.08. The business's fifty day moving average is $118.23 and its two-hundred day moving average is $115.51. 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 Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The firm's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. As a group, research analysts expect that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.71%. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.74%.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares of the company's stock, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. 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 corporate insiders.

Institutional Trading of The Hartford Financial Services Group

A number of hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in The Hartford Financial Services Group during the 4th quarter worth approximately $416,340,000. GAMMA Investing LLC grew its stake in shares of The Hartford Financial Services Group by 14,049.5% in the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after purchasing an additional 1,413,945 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in shares of 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 worth $132,710,000 after purchasing an additional 881,224 shares during the last quarter. Ameriprise Financial Inc. increased its position in The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after purchasing an additional 735,170 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after buying an additional 709,324 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

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.