Piper Sandler Issues Positive Forecast for The Hartford Financial Services Group (NYSE:HIG) Stock Price

The Hartford Financial Services Group (NYSE:HIG) had its price target upped by Piper Sandler from $127.00 to $130.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

HIG has been the topic of several other research reports. UBS Group lifted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted 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 report on Wednesday, November 27th. Jefferies Financial Group upped their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday. Finally, StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.89.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $112.39 on Monday. The company has a market capitalization of $32.58 billion, a P/E ratio of 10.86, a PEG ratio of 0.81 and a beta of 0.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $112.91 and a 200 day simple moving average of $113.55. The Hartford Financial Services Group has a fifty-two week low of $88.81 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) 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%. Sell-side analysts predict that The Hartford Financial Services Group will post 11.46 earnings per share for the current fiscal year.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of institutional investors and hedge funds have recently bought and sold shares of HIG. Nordea Investment Management AB raised its position in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of The Hartford Financial Services Group by 2.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock worth $135,052,000 after acquiring an additional 34,938 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of The Hartford Financial Services Group by 265.5% during the 4th 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after purchasing an additional 277,295 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

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.