Morgan Stanley Raises The Hartford Financial Services Group (NYSE:HIG) Price Target to $110.00

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

A number of other brokerages have also recently commented on HIG. The Goldman Sachs Group upped their price target on 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. Keefe, Bruyette & Woods increased their target price on 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. Evercore ISI increased their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. Piper Sandler reiterated an overweight rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, Wells Fargo & Company increased their target price on 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. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $105.56.

The Hartford Financial Services Group Stock Down 2.0 %

The Hartford Financial Services Group stock opened at $95.78 on Monday. The stock has a market cap of $28.48 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group has a one year low of $67.05 and a one year high of $103.64. The stock has a fifty day moving average of $97.49 and a 200 day moving average of $84.97.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 earnings per share. As a group, sell-side analysts predict that The Hartford Financial Services Group will post 10.12 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 23.53%.

Insider Activity

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 94,807 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $86.65, for a total transaction of $8,215,026.55. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,746,097. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Hartford Financial Services Group news, CEO Christopher Swift sold 94,807 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $86.65, for a total transaction of $8,215,026.55. Following the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,746,097. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $95.60, for a total value of $784,493.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $2,468,392. The disclosure for this sale can be found here. Insiders sold 249,082 shares of company stock valued at $22,404,321 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Institutional investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. boosted its position in shares of The Hartford Financial Services Group by 11.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after purchasing an additional 331 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $2,875,000. New Millennium Group LLC acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $1,552,000. SteelPeak Wealth LLC acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $1,691,000. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $1,801,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

About The Hartford Financial Services Group

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.