The Hartford Financial Services Group (NYSE:HIG) Given New $110.00 Price Target at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its price target boosted by Morgan Stanley from $94.00 to $110.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Several other brokerages have also recently issued reports on HIG. The Goldman Sachs Group increased their price target on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a buy rating in a research report on Friday, April 12th. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their price target on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Finally, Raymond James restated an outperform rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $105.56.

The Hartford Financial Services Group Trading Up 1.2 %

NYSE HIG opened at $96.95 on Monday. The firm’s 50-day moving average is $97.64 and its two-hundred day moving average is $85.06. The Hartford Financial Services Group has a 12 month low of $67.05 and a 12 month high of $103.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $28.82 billion, a P/E ratio of 12.13, a PEG ratio of 1.38 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.62. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 earnings per share. On average, sell-side analysts anticipate that The Hartford Financial Services Group will post 10.13 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.94%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Activity

In other news, CEO Christopher Swift sold 94,807 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $86.65, for a total value of $8,215,026.55. Following the completion of the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,746,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now directly owns 630 shares of the company’s stock, valued at $56,536.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 94,807 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $86.65, for a total value of $8,215,026.55. Following the completion of the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,746,097. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,264 shares of company stock valued at $18,438,369. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds have recently modified their holdings of HIG. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of The Hartford Financial Services Group by 7.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock worth $1,271,000 after purchasing an additional 1,185 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of The Hartford Financial Services Group by 9.1% during the first quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 330 shares during the period. Prudential PLC acquired a new stake in shares of The Hartford Financial Services Group during the first quarter worth $674,000. Cetera Investment Advisers lifted its holdings in shares of The Hartford Financial Services Group by 88.6% during the first quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock worth $807,000 after purchasing an additional 5,278 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in shares of The Hartford Financial Services Group by 235.4% during the first quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 751 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

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.