Morgan Stanley Trims The Hartford Financial Services Group (NYSE:HIG) Target Price to $109.00

The Hartford Financial Services Group (NYSE:HIG) had its price target lowered by Morgan Stanley from $110.00 to $109.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

A number of other equities research analysts have also issued reports on the stock. TD Cowen lifted their target price on shares of The Hartford Financial Services Group to $144.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Roth Mkm boosted their target price on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Citigroup raised their price target on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their price target on The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, 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 report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $105.44.

The Hartford Financial Services Group Stock Up 1.9 %

NYSE:HIG opened at $97.07 on Friday. The Hartford Financial Services Group has a 1-year low of $67.05 and a 1-year high of $103.64. The firm has a market capitalization of $28.71 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.35 and a beta of 0.89. 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 business’s fifty day moving average price is $98.58 and its 200 day moving average price is $86.64.

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

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.94%. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the transaction, the senior vice president now directly owns 630 shares of the company’s stock, valued at approximately $56,536.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 27th. The stock was 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 $6,600,105.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total value of $119,533.68. Following the transaction, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The disclosure for this sale can be found here. Insiders sold a total of 106,501 shares of company stock worth $10,141,126 in the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Trading of The Hartford Financial Services Group

Several institutional investors have recently modified their holdings of HIG. GoalVest Advisory LLC raised its stake in shares of The Hartford Financial Services Group by 464.8% in the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $26,000. CVA Family Office LLC bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $27,000. Chilton Capital Management LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter worth about $28,000. Finally, Selway Asset Management bought a new position in The Hartford Financial Services Group during the third quarter worth about $29,000. 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.