The Hartford Financial Services Group (NYSE:HIG) Given New $130.00 Price Target at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its price target cut by equities researchers at Wells Fargo & Company from $134.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 20.74% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group upped their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. UBS Group increased their price objective on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets increased their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.28.

The Hartford Financial Services Group Price Performance

Shares of HIG stock traded up $0.19 during trading hours on Tuesday, reaching $107.67. The company had a trading volume of 45,673 shares, compared to its average volume of 1,361,616. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a fifty day moving average of $114.35 and a 200-day moving average of $112.43. The company has a market capitalization of $31.21 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.92 and a beta of 0.98. The Hartford Financial Services Group has a 12-month low of $81.87 and a 12-month high of $124.90.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several hedge funds have recently modified their holdings of HIG. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at $26,000. Quest Partners LLC raised its stake in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares in the last quarter. Clean Yield Group acquired a new stake in The Hartford Financial Services Group in the third quarter valued at $33,000. BNP Paribas acquired a new stake in The Hartford Financial Services Group in the third quarter valued at $35,000. Finally, Ashton Thomas Securities LLC acquired a new stake in The Hartford Financial Services Group in the third quarter valued at $40,000. 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.