The Hartford Financial Services Group (NYSE:HIG) Shares Gap Down – What’s Next?

The Hartford Financial Services Group, Inc. (NYSE:HIG)’s share price gapped down prior to trading on Friday . The stock had previously closed at $114.26, but opened at $105.98. The Hartford Financial Services Group shares last traded at $108.40, with a volume of 404,020 shares changing hands.

Analyst Upgrades and Downgrades

HIG has been the subject of several research reports. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Wells Fargo & Company reduced their price objective on The Hartford Financial Services Group from $134.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Finally, UBS Group boosted their target price 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. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.28.

The Hartford Financial Services Group Trading Down 3.8 %

The stock has a market cap of $31.86 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.82 and a beta of 0.98. The business has a fifty day simple moving average of $113.09 and a 200 day simple moving average of $113.35. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 20.35% and a net margin of 11.62%. As a group, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.06 EPS for the current year.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in The Hartford Financial Services Group by 2.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock worth $135,052,000 after purchasing an additional 34,938 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after purchasing an additional 277,295 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Institutional investors 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.