Wells Fargo & Company Issues Pessimistic Forecast for The Hartford Financial Services Group (NYSE:HIG) Stock Price

The Hartford Financial Services Group (NYSE:HIGGet Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $126.00 to $125.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.81% from the stock’s previous close.

HIG has been the subject of a number of other reports. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Raymond James upped their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.24.

Get Our Latest Analysis on HIG

The Hartford Financial Services Group Trading Down 0.4 %

Shares of HIG traded down $0.43 on Thursday, reaching $115.94. 785,855 shares of the company’s stock were exchanged, compared to its average volume of 1,585,575. The Hartford Financial Services Group has a 12 month low of $94.47 and a 12 month high of $125.08. The stock has a market capitalization of $33.09 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $116.47 and a two-hundred day moving average price of $115.35.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Research analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current year.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $11,805,563.79. Following the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,343 shares of company stock worth $13,488,337. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 234 shares in the last quarter. Barrett & Company Inc. raised its stake in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Spurstone Advisory Services LLC purchased a new stake in The Hartford Financial Services Group in the 4th quarter worth $33,000. Itau Unibanco Holding S.A. bought a new position in The Hartford Financial Services Group during the fourth quarter valued at $35,000. Finally, DT Investment Partners LLC raised its position in The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

About The Hartford Financial Services Group

(Get Free Report)

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.

Recommended Stories

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

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