The Hartford Financial Services Group (NYSE:HIG) Stock Rating Reaffirmed by Royal Bank of Canada

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

A number of other research analysts also recently commented on HIG. The Goldman Sachs Group increased their target price on The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a buy rating in a report on Thursday, June 13th. Evercore ISI raised their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an in-line rating in a report on Thursday, April 11th. Morgan Stanley cut their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Roth Mkm raised their price target on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a neutral rating in a report on Friday, April 26th. Finally, Piper Sandler reissued an overweight rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $106.71.

The Hartford Financial Services Group Trading Down 2.2 %

NYSE:HIG opened at $100.54 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $100.65 and its two-hundred day moving average is $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 market cap 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 released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the business earned $1.68 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that The Hartford Financial Services Group will post 9.91 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

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

Insider Activity

In other news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $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, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group 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 transaction, the executive vice president now directly owns 25,643 shares in the company, valued at approximately $2,584,301.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction 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 completion of the transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise grew its holdings in shares of The Hartford Financial Services Group by 378.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock worth $1,724,000 after acquiring an additional 13,232 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in shares of The Hartford Financial Services Group by 11.7% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after buying an additional 331 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $2,875,000. Stifel Financial Corp boosted its position in shares of The Hartford Financial Services Group by 14.2% in the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after buying an additional 32,534 shares during the period. Finally, New Millennium Group LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $1,552,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.