Hartford Financial Services Group (NYSE:HIG) Given a $70.00 Price Target at Barclays

Barclays set a $70.00 target price on Hartford Financial Services Group (NYSE:HIG) in a research report sent to investors on Monday morning, TipRanks reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Hartford Financial Services Group from a buy rating to a hold rating in a research note on Monday, May 20th. Morgan Stanley upped their target price on shares of Hartford Financial Services Group from $53.00 to $58.00 and gave the stock an equal weight rating in a research note on Friday, July 19th. UBS Group upped their target price on shares of Hartford Financial Services Group from $61.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Wells Fargo & Co reiterated a hold rating and issued a $56.00 price target on shares of Hartford Financial Services Group in a research note on Thursday, May 2nd. Finally, Goldman Sachs Group upgraded shares of Hartford Financial Services Group from a neutral rating to a buy rating and increased their price target for the company from $53.00 to $64.00 in a research note on Wednesday, May 29th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $61.92.

HIG stock opened at $57.89 on Monday. The company’s 50 day moving average price is $57.33 and its 200 day moving average price is $52.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.28 and a current ratio of 0.28. Hartford Financial Services Group has a fifty-two week low of $40.54 and a fifty-two week high of $59.17. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.16 and a beta of 0.67.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, August 1st. The insurance provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.22. Hartford Financial Services Group had a net margin of 8.36% and a return on equity of 12.44%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts forecast that Hartford Financial Services Group will post 5.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a yield of 2.07%. Hartford Financial Services Group’s dividend payout ratio is currently 27.71%.

In other news, insider William A. Bloom sold 7,927 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.48, for a total transaction of $431,862.96. Following the transaction, the insider now directly owns 23,440 shares in the company, valued at $1,277,011.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert B. Allardice III sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $54.44, for a total transaction of $353,860.00. Following the transaction, the director now owns 30,684 shares in the company, valued at $1,670,436.96. The disclosure for this sale can be found here. Insiders sold 103,959 shares of company stock worth $5,805,656 over the last quarter. 1.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtus ETF Advisers LLC purchased a new position in shares of Hartford Financial Services Group during the second quarter worth approximately $26,000. NuWave Investment Management LLC grew its position in shares of Hartford Financial Services Group by 950.0% during the second quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 456 shares during the last quarter. Rational Advisors LLC grew its position in shares of Hartford Financial Services Group by 950.0% during the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 456 shares during the last quarter. Harvest Group Wealth Management LLC purchased a new position in shares of Hartford Financial Services Group during the first quarter worth approximately $33,000. Finally, Icon Wealth Partners LLC purchased a new position in shares of Hartford Financial Services Group during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 90.71% of the company’s stock.

Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

Further Reading: Short Selling – Explanation For Shorting Stocks

Analyst Recommendations for Hartford Financial Services Group (NYSE:HIG)

Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.