Keefe, Bruyette & Woods Lowers The Hartford Financial Services Group (NYSE:HIG) Price Target to $133.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective trimmed by Keefe, Bruyette & Woods from $140.00 to $133.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

HIG has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday. Piper Sandler increased their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Finally, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.24.

The Hartford Financial Services Group Trading Down 0.2 %

HIG traded down $0.19 during trading on Wednesday, hitting $116.18. The company’s stock had a trading volume of 844,664 shares, compared to its average volume of 1,585,812. The stock has a market cap of $33.16 billion, a PE ratio of 11.22, a PEG ratio of 1.12 and a beta of 0.68. 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 firm’s 50 day moving average price is $116.47 and its 200-day moving average price is $115.35. The Hartford Financial Services Group has a twelve month low of $94.47 and a twelve month high of $125.08.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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, analysts expect that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.79%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value 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 $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $26,385,250. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock worth $13,488,337 over the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP grew its holdings in shares of The Hartford Financial Services Group by 21.6% during the third quarter. Quantinno Capital Management LP now owns 18,744 shares of the insurance provider’s stock valued at $2,205,000 after buying an additional 3,334 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in The Hartford Financial Services Group by 353.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 11,971 shares of the insurance provider’s stock valued at $1,408,000 after purchasing an additional 9,333 shares in the last quarter. MML Investors Services LLC lifted its position in shares of The Hartford Financial Services Group by 13.1% in the third quarter. MML Investors Services LLC now owns 32,239 shares of the insurance provider’s stock valued at $3,792,000 after acquiring an additional 3,731 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in The Hartford Financial Services Group by 5.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 88,084 shares of the insurance provider’s stock worth $10,360,000 after purchasing an additional 4,584 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of The Hartford Financial Services Group by 4.0% during the 3rd quarter. M&T Bank Corp now owns 41,166 shares of the insurance provider’s stock valued at $4,842,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Company Profile

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.