The Hartford Financial Services Group (NYSE:HIG) Price Target Increased to $125.00 by Analysts at JPMorgan Chase & Co.

The Hartford Financial Services Group (NYSE:HIG - Free Report) had its price objective increased by JPMorgan Chase & Co. from $122.00 to $125.00 in a report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider's stock.

A number of other research analysts have also recently weighed in on the stock. Barclays started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 10th. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Jefferies Financial Group upped their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Finally, Citigroup lowered The Hartford Financial Services Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of "Moderate Buy" and an average price target of $120.76.

The Hartford Financial Services Group Trading Down 6.8 %

Shares of NYSE:HIG traded down $8.20 during trading on Friday, reaching $112.26. The company's stock had a trading volume of 2,955,971 shares, compared to its average volume of 1,600,752. The firm's 50 day simple moving average is $116.27 and its two-hundred day simple moving average is $106.81. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The Hartford Financial Services Group has a 12 month low of $68.92 and a 12 month high of $123.23. The stock has a market capitalization of $33.20 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, October 24th. The insurance provider reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.04. The firm had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.62 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. On average, research analysts predict that The Hartford Financial Services Group will post 10.09 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC bought a new position in The Hartford Financial Services Group in the first quarter worth about $274,000. Kathmere Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 15.6% during the 1st quarter. Kathmere Capital Management LLC now owns 6,277 shares of the insurance provider's stock worth $647,000 after acquiring an additional 849 shares in the last quarter. Winthrop Advisory Group LLC purchased a new stake in The Hartford Financial Services Group during the first quarter valued at approximately $220,000. Guidance Capital Inc. lifted its position in The Hartford Financial Services Group by 3.5% during the first quarter. Guidance Capital Inc. now owns 8,391 shares of the insurance provider's stock valued at $816,000 after acquiring an additional 280 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in The Hartford Financial Services Group by 65.5% in the first quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider's stock valued at $3,584,000 after acquiring an additional 13,710 shares in the last quarter. 93.42% of the stock is 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.