The Hartford Financial Services Group (NYSE:HIG) Given New $113.00 Price Target at Citigroup

The Hartford Financial Services Group (NYSE:HIG) had its price objective raised by Citigroup from $109.00 to $113.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other equities analysts have also weighed in on the company. Roth Mkm lifted their price target on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a neutral rating in a research note on Friday, February 2nd. UBS Group lifted their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a buy rating in a research note on Monday, February 5th. Morgan Stanley lifted their price target on The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an equal weight rating in a research note on Monday. The Goldman Sachs Group lifted their price target on The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a buy rating in a research note on Friday, April 12th. Finally, TD Cowen lifted their price target on The Hartford Financial Services Group to $144.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of Moderate Buy and an average price target of $105.56.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $96.95 on Tuesday. The stock has a market cap of $28.82 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The business has a 50-day simple moving average of $97.64 and a 200-day simple moving average of $85.06. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group has a 52-week low of $67.05 and a 52-week high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.62. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. On average, equities analysts expect that The Hartford Financial Services Group will post 10.13 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total transaction of $82,216.00. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total transaction of $82,216.00. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the transaction, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The disclosure for this sale can be found here. Insiders have sold a total of 202,264 shares of company stock worth $18,438,369 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. lifted its holdings in The Hartford Financial Services Group by 11.7% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after acquiring an additional 331 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $2,875,000. New Millennium Group LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $1,552,000. SteelPeak Wealth LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $1,691,000. Finally, Moody Aldrich Partners LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $1,801,000. 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.