The Hartford Financial Services Group (NYSE:HIG) Given New $145.00 Price Target at Piper Sandler

The Hartford Financial Services Group (NYSE:HIG) had its target price increased by Piper Sandler from $130.00 to $145.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s target price indicates a potential upside of 17.19% from the stock’s current price.

HIG has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.61.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $123.73 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company’s fifty day moving average price is $115.75 and its 200-day moving average price is $115.33. The firm has a market capitalization of $35.31 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group has a 1-year low of $94.47 and a 1-year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, equities research analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current year.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $416,340,000. AustralianSuper Pty Ltd boosted its position in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after buying an additional 881,224 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock valued at $247,761,000 after buying an additional 735,170 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after purchasing an additional 709,324 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of The Hartford Financial Services Group by 11,904.7% in the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock valued at $632,000 after purchasing an additional 626,304 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

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.