Brokerages Set Hartford Financial Services Group Inc (HIG) Price Target at $50.50

Shares of Hartford Financial Services Group Inc (NYSE:HIG) have received a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $51.14.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Co reaffirmed a “hold” rating on shares of Hartford Financial Services Group in a report on Tuesday. Credit Suisse Group AG set a $53.00 price target on shares of Hartford Financial Services Group and gave the company a “hold” rating in a report on Saturday, April 1st. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hartford Financial Services Group in a report on Thursday, April 6th. Barclays PLC reissued a “buy” rating and issued a $55.00 price target on shares of Hartford Financial Services Group in a report on Monday, January 9th. Finally, Zacks Investment Research downgraded shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Friday, February 17th.

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In other news, Director Teresa Wynn Roseborough acquired 1,005 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were purchased at an average price of $49.72 per share, for a total transaction of $49,968.60. Following the completion of the acquisition, the director now owns 5,755 shares of the company’s stock, valued at approximately $286,138.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.23% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in Hartford Financial Services Group by 0.3% in the third quarter. Fisher Asset Management LLC now owns 10,466 shares of the insurance provider’s stock worth $448,000 after buying an additional 31 shares in the last quarter. MAI Capital Management bought a new stake in shares of Hartford Financial Services Group during the third quarter worth about $269,000. Acadian Asset Management LLC boosted its stake in shares of Hartford Financial Services Group by 45.7% in the third quarter. Acadian Asset Management LLC now owns 7,386 shares of the insurance provider’s stock worth $317,000 after buying an additional 2,315 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Hartford Financial Services Group by 10.5% in the third quarter. Nationwide Fund Advisors now owns 262,527 shares of the insurance provider’s stock worth $11,241,000 after buying an additional 24,878 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Hartford Financial Services Group by 13.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,025,040 shares of the insurance provider’s stock worth $43,893,000 after buying an additional 124,640 shares during the last quarter. Hedge funds and other institutional investors own 89.59% of the company’s stock.

Hartford Financial Services Group (NYSE:HIG) traded down 0.82% during midday trading on Tuesday, hitting $47.24. 1,121,384 shares of the stock traded hands. Hartford Financial Services Group has a one year low of $38.92 and a one year high of $50.26. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 20.81 and a beta of 1.22. The company has a 50-day moving average price of $48.27 and a 200 day moving average price of $47.19.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, February 2nd. The insurance provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.14. The business earned $4.54 billion during the quarter, compared to the consensus estimate of $4.72 billion. Hartford Financial Services Group had a net margin of 4.90% and a return on equity of 7.40%. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities research analysts anticipate that Hartford Financial Services Group will post $4.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Monday, March 6th were issued a $0.23 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.93%. Hartford Financial Services Group’s dividend payout ratio is 41.26%.

Hartford Financial Services Group Company Profile

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