The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $122.94.

A number of research firms have recently issued reports on HIG. Wells Fargo & Company dropped their target price 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. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets upped 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 report on Wednesday, November 27th.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $119.20 on Monday. The Hartford Financial Services Group has a 52-week low of $94.47 and a 52-week high of $124.90. The firm has a market capitalization of $34.02 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.91. The company has a fifty day simple moving average of $114.36 and a 200-day simple moving average of $115.05. 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 Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated 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 directly owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its holdings in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 234 shares in the last quarter. Barrett & Company Inc. raised its holdings in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares in the last quarter. BNP Paribas acquired a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $35,000. Spurstone Advisory Services LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $33,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds 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.