The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $122.94 Consensus Target Price from Brokerages

The Hartford Financial Services Group, Inc. (NYSE:HIG) has received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $122.94.

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday.

The Hartford Financial Services Group Trading Down 0.9 %

Shares of NYSE:HIG opened at $115.38 on Thursday. The company has a 50 day moving average of $111.33 and a 200-day moving average of $114.33. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $32.93 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group has a twelve month low of $94.32 and a twelve month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.80%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Institutional Trading of The Hartford Financial Services Group

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of The Hartford Financial Services Group by 2.9% in the 3rd quarter. Creative Planning now owns 79,105 shares of the insurance provider’s stock valued at $9,304,000 after purchasing an additional 2,237 shares during the last quarter. OLD National Bancorp IN raised its holdings in The Hartford Financial Services Group by 34.3% during the third quarter. OLD National Bancorp IN now owns 3,428 shares of the insurance provider’s stock valued at $403,000 after buying an additional 875 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of The Hartford Financial Services Group by 3.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock worth $9,117,000 after buying an additional 2,279 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of The Hartford Financial Services Group by 5.2% during the 3rd quarter. Whittier Trust Co. now owns 3,655 shares of the insurance provider’s stock worth $430,000 after acquiring an additional 180 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of The Hartford Financial Services Group by 98.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,668 shares of the insurance provider’s stock valued at $1,372,000 after acquiring an additional 5,775 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.