Hartford Financial Services Group (NYSE:HIG) PT Set at $70.00 by Barclays

Hartford Financial Services Group (NYSE:HIG) received a $70.00 target price from stock analysts at Barclays in a research note issued on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Barclays‘s price target points to a potential upside of 21.89% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group upgraded Hartford Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.00 to $64.00 in a research note on Wednesday, May 29th. Royal Bank of Canada boosted their price target on Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. B. Riley boosted their price target on Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Morgan Stanley boosted their price target on Hartford Financial Services Group from $53.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Buckingham Research boosted their price target on Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $61.69.

Shares of NYSE:HIG traded down $1.47 during trading on Monday, reaching $57.43. 1,087,143 shares of the stock were exchanged, compared to its average volume of 2,104,499. Hartford Financial Services Group has a 12 month low of $40.54 and a 12 month high of $59.17. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.18 and a beta of 0.67. The company’s 50-day moving average is $57.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.28 and a current ratio of 0.28.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Hartford Financial Services Group had a return on equity of 12.44% and a net margin of 8.36%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, analysts anticipate that Hartford Financial Services Group will post 5.24 earnings per share for the current year.

In other Hartford Financial Services Group news, Director Robert B. Allardice III sold 3,500 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $58.71, for a total transaction of $205,485.00. Following the completion of the sale, the director now directly owns 21,684 shares in the company, valued at $1,273,067.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 5,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.19, for a total value of $285,950.00. Following the sale, the chief financial officer now owns 51,245 shares of the company’s stock, valued at $2,930,701.55. The disclosure for this sale can be found here. Insiders have sold 103,959 shares of company stock valued at $5,805,656 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFM Investors Pty Ltd increased its holdings in Hartford Financial Services Group by 14.7% in the second quarter. IFM Investors Pty Ltd now owns 26,441 shares of the insurance provider’s stock valued at $1,473,000 after purchasing an additional 3,387 shares during the period. Swiss National Bank increased its holdings in Hartford Financial Services Group by 16.5% in the first quarter. Swiss National Bank now owns 1,358,015 shares of the insurance provider’s stock valued at $67,521,000 after purchasing an additional 192,000 shares during the period. Foundry Partners LLC increased its holdings in Hartford Financial Services Group by 0.6% in the second quarter. Foundry Partners LLC now owns 241,956 shares of the insurance provider’s stock valued at $13,482,000 after purchasing an additional 1,500 shares during the period. Martingale Asset Management L P increased its holdings in Hartford Financial Services Group by 129.0% in the first quarter. Martingale Asset Management L P now owns 94,524 shares of the insurance provider’s stock valued at $4,700,000 after purchasing an additional 53,242 shares during the period. Finally, Investors Research Corp acquired a new stake in Hartford Financial Services Group in the first quarter valued at $93,000. Hedge funds and other institutional investors own 90.71% of the company’s stock.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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