Raymond James Forecasts Strong Price Appreciation for The Hartford Financial Services Group (NYSE:HIG) Stock

The Hartford Financial Services Group (NYSE:HIG) had its target price upped by research analysts at Raymond James from $125.00 to $135.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Raymond James’ price objective indicates a potential upside of 9.36% from the company’s previous close.

Several other analysts have also recently weighed in on HIG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.78.

The Hartford Financial Services Group Stock Performance

HIG traded up $1.23 during trading on Monday, reaching $123.45. 365,396 shares of the company’s stock were exchanged, compared to its average volume of 1,571,531. The company has a market capitalization of $35.23 billion, a P/E ratio of 11.93, a PEG ratio of 1.12 and a beta of 0.91. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $115.52 and a 200 day moving average price of $115.27. The Hartford Financial Services Group has a fifty-two week low of $94.47 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, analysts predict that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Trading of The Hartford Financial Services Group

Hedge funds have recently bought and sold shares of the stock. 111 Capital bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $1,263,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of The Hartford Financial Services Group by 37.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 101,634 shares of the insurance provider’s stock valued at $11,119,000 after purchasing an additional 27,464 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of The Hartford Financial Services Group by 0.8% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider’s stock valued at $1,453,000 after purchasing an additional 105 shares in the last quarter. Siemens Fonds Invest GmbH boosted its position in shares of The Hartford Financial Services Group by 91.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 13,518 shares of the insurance provider’s stock worth $1,479,000 after buying an additional 6,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $29,749,000. 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.