The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $122.94 Consensus Target Price from Analysts

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat reports. Nine 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 1 year price target among analysts that have issued ratings on the stock in the last year is $122.94.

Several equities analysts recently commented on HIG shares. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Piper Sandler raised their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th.

The Hartford Financial Services Group Trading Up 2.1 %

Shares of The Hartford Financial Services Group stock opened at $113.79 on Thursday. The company’s fifty day simple moving average is $111.01 and its 200-day simple moving average is $114.27. The Hartford Financial Services Group has a 1 year low of $94.32 and a 1 year high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $32.99 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, sell-side analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently modified their holdings of the business. DT Investment Partners LLC bought a new position in The Hartford Financial Services Group in the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. lifted its position in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares in the last quarter. Spurstone Advisory Services LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at $33,000. Finally, BNP Paribas acquired a new position in The Hartford Financial Services Group in the 3rd quarter worth $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.