The Hartford Financial Services Group (NYSE:HIG - Get Free Report) had its price target hoisted by Piper Sandler from $130.00 to $145.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Piper Sandler's price objective would suggest a potential upside of 27.69% from the company's current price.
Other analysts have also issued reports about the stock. Raymond James upped their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Barclays raised shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com cut The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.47.
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The Hartford Financial Services Group Price Performance
Shares of HIG traded down $9.88 during trading hours on Tuesday, reaching $113.56. 2,389,812 shares of the company's stock traded hands, compared to its average volume of 1,582,076. The Hartford Financial Services Group has a 12 month low of $94.47 and a 12 month high of $125.08. 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 stock has a market cap of $32.41 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The firm's 50 day simple moving average is $116.56 and its 200-day simple moving average is $115.49.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 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%. Equities analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.
Insider Buying and Selling at The Hartford Financial Services Group
In related news, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $26,385,250. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,343 shares of company stock worth $13,488,337. Company insiders own 1.60% of the company's stock.
Institutional Trading of The Hartford Financial Services Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in shares of The Hartford Financial Services Group by 66.4% during the 1st quarter. Versant Capital Management Inc now owns 782 shares of the insurance provider's stock valued at $97,000 after acquiring an additional 312 shares during the period. 111 Capital bought a new stake in The Hartford Financial Services Group during the fourth quarter valued at about $1,263,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of The Hartford Financial Services Group by 37.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 101,634 shares of the insurance provider's stock worth $11,119,000 after buying an additional 27,464 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of The Hartford Financial Services Group by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider's stock valued at $1,453,000 after buying an additional 105 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its stake in shares of The Hartford Financial Services Group by 91.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 13,518 shares of the insurance provider's stock valued at $1,479,000 after acquiring an additional 6,440 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.
About The Hartford Financial Services Group
(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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