The Hartford Financial Services Group (NYSE:HIG - Get Free Report) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $133.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 20.39% from the company's previous close.
A number of other equities research analysts have also issued reports on HIG. Morgan Stanley cut their price target 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 report on Wednesday, July 10th. Argus upgraded The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Bank of America raised their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Finally, UBS Group upped their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. 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 company. Based on data from MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and a consensus target price of $120.88.
Check Out Our Latest Stock Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Trading Down 1.1 %
NYSE HIG traded down $1.25 on Tuesday, hitting $112.14. 1,970,856 shares of the company were exchanged, compared to its average volume of 1,603,480. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a twelve month low of $71.16 and a twelve month high of $123.23. The firm has a market capitalization of $33.17 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company's 50 day moving average price is $116.37 and its 200-day moving average price is $107.20.
The Hartford Financial Services Group declared that its Board of Directors has approved a share buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.
Institutional Trading of The Hartford Financial Services Group
Large investors have recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group during the 1st quarter worth $26,000. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group during the 3rd quarter valued at approximately $26,000. Quest Partners LLC grew its holdings in The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock valued at $29,000 after buying an additional 275 shares during the last quarter. Bank & Trust Co bought a new position in The Hartford Financial Services Group in the 2nd quarter worth approximately $30,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group during the second quarter worth approximately $31,000. 93.42% of the stock is owned by institutional investors.
About The Hartford Financial Services Group
(
Get Free Report)
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.
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