The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

The Hartford Financial Services Group (NYSE:HIG) had its price objective reduced by investment analysts at Wells Fargo & Company from $134.00 to $130.00 in a note issued to investors 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 16.83% from the stock’s previous close.

Several other analysts also recently commented on the stock. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target 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. JPMorgan Chase & Co. upped 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 note on Friday, October 25th. Bank of America lifted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.28.

The Hartford Financial Services Group Trading Up 1.7 %

The Hartford Financial Services Group stock opened at $111.27 on Tuesday. The Hartford Financial Services Group has a 12-month low of $81.87 and a 12-month high of $124.90. The firm has a market capitalization of $32.26 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 0.92 and a beta of 0.98. The firm has a 50 day moving average of $114.31 and a 200 day moving average of $112.49. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in HIG. Assenagon Asset Management S.A. grew its holdings in The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after purchasing an additional 709,324 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of The Hartford Financial Services Group by 31,680.4% during the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after buying an additional 691,900 shares during the period. Nordea Investment Management AB grew its stake 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. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of The Hartford Financial Services Group by 42.1% in 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 buying an additional 277,295 shares during the period. Finally, Verition Fund Management LLC lifted its stake in shares of The Hartford Financial Services Group by 7,564.9% during the 3rd quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock worth $29,243,000 after acquiring an additional 245,404 shares during the last quarter. 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.