Wells Fargo & Company Cuts The Hartford Financial Services Group (NYSE:HIG) Price Target to $126.00

The Hartford Financial Services Group (NYSE:HIG) had its price objective decreased by Wells Fargo & Company from $130.00 to $126.00 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on HIG. BMO Capital Markets boosted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Bank of America increased their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $113.54 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50-day moving average of $112.51 and a 200-day moving average of $113.68. The Hartford Financial Services Group has a one year low of $89.04 and a one year high of $124.90. The company has a market cap of $32.92 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data 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 net margin of 11.72% and a return on equity of 19.55%. Equities research analysts forecast that The Hartford Financial Services Group will post 11.46 EPS for the current fiscal year.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Institutional investors and hedge funds have recently bought and sold shares of the company. DT Investment Partners LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. grew its position in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Clean Yield Group bought a new position in The Hartford Financial Services Group in the 3rd quarter worth about $33,000. Barrett & Company Inc. increased its stake in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the last quarter. Finally, BNP Paribas purchased a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $35,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

About The Hartford Financial Services Group

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.