Hartford Financial Services Group (NYSE:HIG) Given New $63.00 Price Target at Morgan Stanley

Hartford Financial Services Group (NYSE:HIG) had its price target hoisted by Morgan Stanley from $61.00 to $63.00 in a research report sent to investors on Friday morning, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

A number of other equities analysts have also issued reports on the company. Royal Bank of Canada increased their price objective on Hartford Financial Services Group from $68.00 to $70.00 and gave the stock an outperform rating in a report on Wednesday. Wells Fargo & Co reissued a hold rating and issued a $58.00 price objective on shares of Hartford Financial Services Group in a report on Monday, November 4th. Zacks Investment Research raised Hartford Financial Services Group from a hold rating to a buy rating and set a $64.00 price objective for the company in a report on Thursday. Barclays set a $70.00 price objective on Hartford Financial Services Group and gave the stock a buy rating in a report on Monday, August 12th. Finally, Buckingham Research increased their price objective on Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a buy rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $63.92.

Shares of NYSE:HIG traded up $0.09 during trading on Friday, hitting $61.09. 2,090,048 shares of the company traded hands, compared to its average volume of 2,033,708. The stock has a market capitalization of $21.84 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.18 and a beta of 0.62. The business’s fifty day moving average is $58.92 and its 200-day moving average is $56.76. Hartford Financial Services Group has a one year low of $40.54 and a one year high of $61.63. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.28.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.26. Hartford Financial Services Group had a return on equity of 12.69% and a net margin of 8.66%. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts forecast that Hartford Financial Services Group will post 5.47 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.96%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

In other Hartford Financial Services Group news, EVP Martha Gervasi sold 3,672 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $58.11, for a total value of $213,379.92. Following the completion of the sale, the executive vice president now directly owns 18,882 shares in the company, valued at $1,097,233.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $57.70, for a total value of $288,500.00. Following the completion of the sale, the chief financial officer now owns 46,245 shares of the company’s stock, valued at $2,668,336.50. The disclosure for this sale can be found here. Insiders sold 71,837 shares of company stock valued at $4,273,875 over the last 90 days. 1.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC acquired a new stake in Hartford Financial Services Group in the third quarter worth approximately $25,000. Venturi Wealth Management LLC acquired a new stake in shares of Hartford Financial Services Group during the 3rd quarter valued at $28,000. Virtus ETF Advisers LLC acquired a new stake in shares of Hartford Financial Services Group during the 2nd quarter valued at $26,000. NuWave Investment Management LLC lifted its position in shares of Hartford Financial Services Group by 950.0% during the 2nd quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 456 shares during the last quarter. Finally, Rational Advisors LLC lifted its position in shares of Hartford Financial Services Group by 950.0% during the 2nd quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Hartford Financial Services Group Company Profile

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.

Featured Article: Dead Cat Bounce

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

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