The Hartford Financial Services Group (NYSE:HIG) Price Target Cut to $109.00 by Analysts at Morgan Stanley

The Hartford Financial Services Group (NYSE:HIG) had its target price dropped by analysts at Morgan Stanley from $110.00 to $109.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target indicates a potential upside of 13.44% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on HIG. Roth Mkm increased their price objective on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. The Goldman Sachs Group increased their price objective on The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Raymond James reissued an “outperform” rating and issued a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. UBS Group increased their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, TD Cowen increased their price objective on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.81.

The Hartford Financial Services Group Stock Down 3.0 %

Shares of NYSE HIG traded down $3.00 during trading hours on Friday, hitting $96.09. The stock had a trading volume of 1,359,609 shares, compared to its average volume of 1,793,985. The company has a market capitalization of $28.57 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.41 and a beta of 0.89. The firm’s 50-day moving average price is $98.45 and its two-hundred day moving average price is $86.07. The Hartford Financial Services Group has a 52 week low of $67.05 and a 52 week high of $103.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 EPS. Analysts anticipate that The Hartford Financial Services Group will post 10.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP David C. Robinson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the transaction, the executive vice president now owns 8,201 shares in the company, valued at $735,137.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP David C. Robinson sold 15,000 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the sale, the executive vice president now owns 8,201 shares of the company’s stock, valued at approximately $735,137.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,501 shares of company stock worth $10,141,126. Insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of The Hartford Financial Services Group by 1.3% during the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock valued at $526,242,000 after acquiring an additional 91,911 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after acquiring an additional 1,272,290 shares during the period. Victory Capital Management Inc. lifted its position in shares of The Hartford Financial Services Group by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after acquiring an additional 105,799 shares during the period. LSV Asset Management raised its holdings in shares of The Hartford Financial Services Group by 3.5% during the 4th quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock worth $387,583,000 after buying an additional 165,190 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of The Hartford Financial Services Group by 2.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock valued at $248,646,000 after purchasing an additional 87,001 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

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.