Royal Bank of Canada Reaffirms “Sector Perform” Rating for The Hartford Financial Services Group (NYSE:HIG)

Royal Bank of Canada reissued their sector perform rating on shares of The Hartford Financial Services Group (NYSE:HIG) in a report published on Friday, Benzinga reports. They currently have a $105.00 price objective on the insurance provider’s stock.

Several other brokerages also recently commented on HIG. Roth Mkm boosted their price objective on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a neutral rating in a research report on Friday, April 26th. TD Cowen boosted their target price on The Hartford Financial Services Group to $144.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Keefe, Bruyette & Woods boosted 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. Raymond James reiterated an outperform rating and issued a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, Evercore ISI boosted 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. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of Moderate Buy and a consensus price target of $106.71.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $100.54 on Friday. The stock has a 50-day simple moving average of $100.65 and a two-hundred day simple moving average of $94.63. The Hartford Financial Services Group has a 52-week low of $68.82 and a 52-week high of $105.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $29.74 billion, a PE ratio of 11.43, a P/E/G ratio of 0.83 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The Hartford Financial Services Group’s revenue was up 8.6% on a year-over-year basis. Analysts forecast that The Hartford Financial Services Group will post 9.91 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.87%. The Hartford Financial Services Group’s dividend payout ratio is 21.36%.

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Trading of The Hartford Financial Services Group

A number of hedge funds have recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC lifted its holdings in The Hartford Financial Services Group by 3.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock worth $385,000 after buying an additional 114 shares during the period. MV Capital Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 8.9% during the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 116 shares during the last quarter. Covestor Ltd lifted its holdings in shares of The Hartford Financial Services Group by 28.8% during the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 116 shares during the last quarter. United Asset Strategies Inc. lifted its holdings in shares of The Hartford Financial Services Group by 4.3% during the 1st quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock valued at $302,000 after purchasing an additional 121 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 34.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors 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.