October 6, 2022

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

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The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $80.58.

Several analysts recently weighed in on HIG shares. Morgan Stanley lowered their price objective on The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. StockNews.com assumed coverage on The Hartford Financial Services Group in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Credit Suisse Group lifted their target price on The Hartford Financial Services Group from $93.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, June 3rd. Citigroup assumed coverage on The Hartford Financial Services Group in a research note on Monday, May 23rd. They issued a “buy” rating and a $81.00 target price for the company. Finally, Barclays decreased their target price on The Hartford Financial Services Group from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday.

Insider Transactions at The Hartford Financial Services Group

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In related news, CFO Beth Ann Costello sold 47,214 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $73.18, for a total value of $3,455,120.52. Following the completion of the sale, the chief financial officer now directly owns 50,503 shares in the company, valued at $3,695,809.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 47,214 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $73.18, for a total transaction of $3,455,120.52. Following the completion of the sale, the chief financial officer now directly owns 50,503 shares in the company, valued at $3,695,809.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 47,130 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $72.89, for a total transaction of $3,435,305.70. Following the sale, the chief executive officer now owns 172,129 shares of the company’s stock, valued at $12,546,482.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,087 shares of company stock valued at $7,966,960. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Uncommon Cents Investing LLC raised its position in The Hartford Financial Services Group by 4.5% in the second quarter. Uncommon Cents Investing LLC now owns 30,520 shares of the insurance provider’s stock worth $1,997,000 after purchasing an additional 1,305 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of The Hartford Financial Services Group by 8.8% during the second quarter. IFM Investors Pty Ltd now owns 54,978 shares of the insurance provider’s stock valued at $3,597,000 after purchasing an additional 4,447 shares during the last quarter. Precision Wealth Strategies LLC grew its stake in shares of The Hartford Financial Services Group by 5.5% during the second quarter. Precision Wealth Strategies LLC now owns 5,681 shares of the insurance provider’s stock valued at $364,000 after purchasing an additional 294 shares during the last quarter. Steph & Co. grew its stake in shares of The Hartford Financial Services Group by 11.8% during the second quarter. Steph & Co. now owns 4,732 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 498 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of The Hartford Financial Services Group by 13.0% during the second quarter. Private Advisor Group LLC now owns 20,596 shares of the insurance provider’s stock valued at $1,347,000 after purchasing an additional 2,373 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

The Hartford Financial Services Group Trading Up 2.2 %

Shares of HIG opened at $62.99 on Friday. The stock’s 50-day moving average is $67.73 and its two-hundred day moving average is $69.90. The stock has a market cap of $20.71 billion, a PE ratio of 8.66, a P/E/G ratio of 1.35 and a beta of 0.98. The Hartford Financial Services Group has a 12 month low of $60.31 and a 12 month high of $78.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last announced its earnings results on Thursday, April 28th. The insurance provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.10. The Hartford Financial Services Group had a return on equity of 14.84% and a net margin of 11.39%. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts forecast that The Hartford Financial Services Group will post 6.86 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Wednesday, June 1st were paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Tuesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.18%.

The Hartford Financial Services Group Company Profile

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers’ compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

Further Reading

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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