The Hartford Financial Services Group (HIG) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of The Hartford Financial Services Group (NYSE: HIG) recently:

• 4/29/2024 – The Hartford Financial Services Group had its price target lowered by analysts at Wells Fargo & Company from $117.00 to $111.00. They now have an “overweight” rating on the stock.
• 4/26/2024 – The Hartford Financial Services Group had its price target raised by analysts at Roth Mkm from $90.00 to $95.00. They now have a “neutral” rating on the stock.
• 4/26/2024 – The Hartford Financial Services Group had its price target lowered by analysts at Morgan Stanley from $110.00 to $109.00. They now have an “equal weight” rating on the stock.
• 4/16/2024 – The Hartford Financial Services Group had its price target raised by analysts at Citigroup Inc. from $109.00 to $113.00. They now have a “buy” rating on the stock.
• 4/15/2024 – The Hartford Financial Services Group had its price target raised by analysts at Morgan Stanley from $94.00 to $110.00. They now have an “equal weight” rating on the stock.
• 4/12/2024 – The Hartford Financial Services Group had its price target raised by analysts at The Goldman Sachs Group, Inc. from $92.00 to $105.00. They now have a “buy” rating on the stock.
• 4/11/2024 – The Hartford Financial Services Group had its price target raised by analysts at Wells Fargo & Company from $106.00 to $117.00. They now have an “overweight” rating on the stock.
• 4/11/2024 – The Hartford Financial Services Group had its price target raised by analysts at Evercore ISI from $96.00 to $104.00. They now have an “in-line” rating on the stock.
• 4/10/2024 – The Hartford Financial Services Group had its price target raised by analysts at Keefe, Bruyette & Woods from $114.00 to $120.00. They now have an “outperform” rating on the stock.
• 4/8/2024 – The Hartford Financial Services Group had its price target raised by analysts at JPMorgan Chase & Co. from $91.00 to $104.00. They now have a “neutral” rating on the stock.
• 4/3/2024 – The Hartford Financial Services Group had its price target raised by analysts at TD Cowen to $144.00. They now have a “buy” rating on the stock.
• 4/1/2024 – The Hartford Financial Services Group had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $115.00 price target on the stock.
• 4/1/2024 – The Hartford Financial Services Group had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $120.00 price target on the stock, up previously from $100.00.
• 3/15/2024 – The Hartford Financial Services Group had its price target raised by analysts at Keefe, Bruyette & Woods from $108.00 to $114.00. They now have an “outperform” rating on the stock.

The Hartford Financial Services Group Stock Performance

HIG traded up $0.42 during trading on Thursday, reaching $97.64. 487,896 shares of the company were exchanged, compared to its average volume of 1,796,602. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 52 week low of $67.05 and a 52 week high of $103.64. The firm has a 50 day moving average of $98.71 and a 200 day moving average of $86.89. The stock has a market cap of $28.88 billion, a P/E ratio of 11.10, a PEG ratio of 1.38 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the firm posted $1.68 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 10.03 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insiders Place Their Bets

In other news, EVP David C. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now owns 8,201 shares in the company, valued at $735,137.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP David C. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now owns 8,201 shares in the company, valued at $735,137.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,501 shares of company stock worth $10,141,126. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in The Hartford Financial Services Group by 2.2% during the third quarter. Commonwealth Equity Services LLC now owns 91,493 shares of the insurance provider’s stock valued at $6,488,000 after buying an additional 1,964 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in The Hartford Financial Services Group by 31.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 93,364 shares of the insurance provider’s stock valued at $6,620,000 after buying an additional 22,500 shares during the period. SVB Wealth LLC raised its position in The Hartford Financial Services Group by 20.2% during the third quarter. SVB Wealth LLC now owns 9,811 shares of the insurance provider’s stock valued at $696,000 after buying an additional 1,649 shares during the period. Xponance Inc. increased its position in The Hartford Financial Services Group by 3.3% in the 3rd quarter. Xponance Inc. now owns 43,629 shares of the insurance provider’s stock worth $3,094,000 after purchasing an additional 1,412 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in The Hartford Financial Services Group by 5.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 125,961 shares of the insurance provider’s stock worth $8,932,000 after purchasing an additional 5,946 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.