The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $111.00

The Hartford Financial Services Group (NYSE:HIG) had its target price reduced by Wells Fargo & Company from $117.00 to $111.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.56% from the company’s previous close.

A number of other brokerages have also issued reports on HIG. Evercore ISI increased their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. TD Cowen increased their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group raised their price objective on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Roth Mkm upped their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, Morgan Stanley lowered their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.44.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $96.89 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $98.65 and a 200-day simple moving average of $86.82. The company has a market cap of $28.66 billion, a PE ratio of 11.01, a P/E/G ratio of 1.35 and a beta of 0.89. The Hartford Financial Services Group has a 12-month low of $67.05 and a 12-month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the firm posted $1.68 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that The Hartford Financial Services Group will post 10.11 EPS for the current year.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total value of $3,713,269.30. Following the completion of the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,600,105.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David C. Robinson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at approximately $735,137.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,501 shares of company stock worth $10,141,126. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in The Hartford Financial Services Group during the fourth quarter valued at approximately $278,704,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after buying an additional 1,272,290 shares during the period. Victory Capital Management Inc. grew its holdings in shares of The Hartford Financial Services Group by 26.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock valued at $364,631,000 after acquiring an additional 1,083,420 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of The Hartford Financial Services Group by 144.3% in the third quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock worth $65,665,000 after acquiring an additional 546,969 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 20.2% during the fourth quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after acquiring an additional 497,916 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.