The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $110.88.

A number of research firms recently commented on HIG. Roth Mkm lifted their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Piper Sandler boosted their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Bank of America reduced their price target on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st.

Insider Activity

In related news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. boosted its holdings in shares of The Hartford Financial Services Group by 0.5% in the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after buying an additional 101 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of The Hartford Financial Services Group by 3.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock worth $385,000 after acquiring an additional 114 shares in the last quarter. MV Capital Management Inc. lifted its position in The Hartford Financial Services Group by 8.9% during the fourth quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock valued at $114,000 after acquiring an additional 116 shares during the last quarter. Covestor Ltd boosted its stake in The Hartford Financial Services Group by 28.8% in the first quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 116 shares in the last quarter. Finally, United Asset Strategies Inc. boosted its stake in The Hartford Financial Services Group by 4.3% in the first quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock valued at $302,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.7 %

Shares of HIG stock opened at $108.20 on Friday. The company has a market cap of $32.00 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92. The Hartford Financial Services Group has a 1 year low of $68.82 and a 1 year high of $112.65. The stock’s 50 day simple moving average is $102.89 and its two-hundred day simple moving average is $99.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that The Hartford Financial Services Group will post 10.07 earnings per share for the current year.

The Hartford Financial Services Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

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.