Hartford Financial (HIG) Receives a Buy from KBW

KBW analyst Meyer Shields maintained a Buy rating on Hartford Financial (HIG – Research Report) today and set a price target of $120.00. The company’s shares closed yesterday at $99.09.

Shields covers the Financial sector, focusing on stocks such as Allstate, American Financial Group, and Arch Capital Group. According to TipRanks, Shields has an average return of 13.8% and a 73.29% success rate on recommended stocks.

In addition to KBW, Hartford Financial also received a Buy from Citi’s Michael Ward CFA in a report issued on April 15. However, on the same day, Morgan Stanley maintained a Hold rating on Hartford Financial (NYSE: HIG).

Based on Hartford Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.4 billion and a net profit of $771 million. In comparison, last year the company earned a revenue of $6.02 billion and had a net profit of $592 million

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HIG in relation to earlier this year. Most recently, in February 2024, Beth Ann Bombara, the EVP & CFO of HIG sold 38,915.00 shares for a total of $3,712,880.15.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Hartford Financial (HIG) Company Description:

The Hartford Financial Services Group, Inc. is an insurance and financial services company. The company provides life insurance, group and employee benefits, automobile and homeowners insurance and business insurance, as well as investment products, annuities, mutual funds, and college savings plans. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits and Hartford Funds. The Commercial Lines segment provides workers compensation, property, automobile, liability and umbrella coverage under several different products, primarily throughout the U.S., within its standard commercial lines, which consists of The Hartford’s small commercial and middle market lines of business. The Personal Lines segment includes automobile, homeowners and home-based business coverage to individuals across the U.S. The Property & Casualty Other Operations segment includes certain property and casualty operations, currently managed by the company, that have discontinued writing new business and substantially all of the company’s asbestos and environmental exposures. The Group Benefits segment offers group life, accident and disability coverage, group retiree health and voluntary benefits to individual members of employer groups, associations, affinity groups and financial institutions. The Hartford Funds segment offers investment products for retail and retirement accounts and provides investment management and administrative services such as product design, implementation and oversight. The Hartford Financial Services Group was founded on May 10, 1810 and is headquartered in Hartford, CT.