The Hartford Financial Services Group (NYSE:HIG) PT Raised to $122.00

The Hartford Financial Services Group (NYSE:HIG) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $117.00 to $122.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.96% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Bank of America boosted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays began coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. Morgan Stanley lowered their price target on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

The Hartford Financial Services Group Trading Up 0.9 %

The Hartford Financial Services Group stock opened at $117.36 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The business’s 50-day simple moving average is $113.76 and its 200-day simple moving average is $105.57. The firm has a market capitalization of $34.71 billion, a PE ratio of 13.34, a PEG ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group has a 52 week low of $68.92 and a 52 week high of $119.06.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that The Hartford Financial Services Group will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that allows the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $26,000. Quest Partners LLC lifted its holdings in The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Bank & Trust Co acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth $30,000. Family Firm Inc. acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth $31,000. Finally, Clean Yield Group acquired a new position in The Hartford Financial Services Group during the 3rd quarter worth $33,000. 93.42% of the stock is 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.