The Hartford Financial Services Group (NYSE:HIG) Given New $116.00 Price Target at JPMorgan Chase & Co.

The Hartford Financial Services Group (NYSE:HIG) had its price target boosted by JPMorgan Chase & Co. from $104.00 to $116.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Several other equities analysts have also recently issued reports on HIG. Raymond James reiterated an outperform rating and issued a $120.00 price objective (up previously from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Royal Bank of Canada reiterated a sector perform rating and issued a $105.00 price objective on shares of The Hartford Financial Services Group in a research note on Friday, June 28th. Piper Sandler reiterated an overweight rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. TD Cowen boosted their target price on The Hartford Financial Services Group to $144.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, Evercore ISI boosted their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an in-line rating in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of Moderate Buy and an average target price of $107.50.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $101.75 on Thursday. The company has a market cap of $30.09 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.84 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a 50-day moving average of $101.04 and a two-hundred day moving average of $96.04. The Hartford Financial Services Group has a 1-year low of $68.82 and a 1-year high of $105.20.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 EPS. As a group, analysts anticipate that The Hartford Financial Services Group will post 9.86 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Insiders sold 94,499 shares of company stock worth $9,449,309 over the last 90 days. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in The Hartford Financial Services Group by 27.1% in the first quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock worth $47,073,000 after acquiring an additional 97,465 shares in the last quarter. Banque Cantonale Vaudoise raised its position in The Hartford Financial Services Group by 378.8% in the first 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 in the last quarter. McGlone Suttner Wealth Management Inc. raised its position in 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 acquiring an additional 331 shares in the last quarter. Stifel Financial Corp raised its position in 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 acquiring an additional 32,534 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in The Hartford Financial Services Group in the fourth quarter worth $2,875,000. Hedge funds and other 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.