The Hartford Financial Services Group (HIG) – Investment Analysts’ Recent Ratings Changes

The Hartford Financial Services Group (NYSE: HIG) recently received a number of ratings updates from brokerages and research firms:

  • 1/19/2023 – The Hartford Financial Services Group is now covered by analysts at BMO Capital Markets. They set a “market perform” rating and a $77.00 price target on the stock.
  • 1/18/2023 – The Hartford Financial Services Group had its price target raised by analysts at Wells Fargo & Company from $85.00 to $88.00. They now have an “overweight” rating on the stock.
  • 1/18/2023 – The Hartford Financial Services Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 1/10/2023 – The Hartford Financial Services Group was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 1/10/2023 – The Hartford Financial Services Group had its price target raised by analysts at Piper Sandler from $80.00 to $83.00.
  • 1/9/2023 – The Hartford Financial Services Group was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $84.00 price target on the stock.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock traded up $0.70 on Wednesday, hitting $77.09. The stock had a trading volume of 1,103,905 shares, compared to its average volume of 1,653,663. The Hartford Financial Services Group, Inc. has a twelve month low of $60.17 and a twelve month high of $79.44. The business’s 50 day moving average is $75.56 and its two-hundred day moving average is $69.66. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last posted its earnings results on Thursday, October 27th. The insurance provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.29 by $0.15. The Hartford Financial Services Group had a return on equity of 16.51% and a net margin of 8.82%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts forecast that The Hartford Financial Services Group, Inc. will post 7.11 EPS for the current year.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Thursday, December 1st were given a $0.425 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, November 30th. This represents a $1.70 annualized dividend and a dividend yield of 2.21%. The Hartford Financial Services Group’s dividend payout ratio is presently 29.62%.

Insider Activity

In related news, CEO Christopher Swift sold 7,292 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $76.02, for a total value of $554,337.84. Following the completion of the sale, the chief executive officer now directly owns 143,275 shares in the company, valued at $10,891,765.50. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, President Douglas G. Elliot sold 19,565 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $72.55, for a total value of $1,419,440.75. Following the completion of the sale, the president now directly owns 251,133 shares in the company, valued at $18,219,699.15. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher Swift sold 7,292 shares of the company’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $76.02, for a total value of $554,337.84. Following the sale, the chief executive officer now owns 143,275 shares of the company’s stock, valued at $10,891,765.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,198 shares of company stock valued at $16,404,676. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIG. Cambridge Investment Research Advisors Inc. lifted its stake in 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 last quarter. D.A. Davidson & CO. lifted its stake in shares of The Hartford Financial Services Group by 9.1% in the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock valued at $284,000 after acquiring an additional 330 shares during the last quarter. Prudential PLC bought a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at $674,000. Cetera Investment Advisers lifted its stake in shares of The Hartford Financial Services Group by 88.6% in the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 5,278 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of The Hartford Financial Services Group by 235.4% in the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 751 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.

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