The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $120.59 Average PT from Brokerages

The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report) has earned an average rating of "Moderate Buy" from the eighteen analysts that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $120.59.

A number of analysts have weighed in on HIG shares. Royal Bank of Canada raised their price objective on shares of 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. Wells Fargo & Company boosted their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, September 17th. Morgan Stanley lowered their price objective on 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. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Finally, Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd.

The Hartford Financial Services Group Stock Down 0.3 %

Shares of HIG traded down $0.31 during mid-day trading on Friday, reaching $122.02. The company had a trading volume of 1,299,025 shares, compared to its average volume of 1,601,375. 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 company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The firm has a 50-day moving average price of $115.34 and a 200 day moving average price of $106.30. The Hartford Financial Services Group has a 52 week low of $68.92 and a 52 week high of $123.23.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 earnings per share. On average, sell-side analysts forecast that The Hartford Financial Services Group will post 10.09 EPS for the current year.

The Hartford Financial Services Group declared that its board has authorized a stock 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 repurchase up to 10.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently made changes to their positions in HIG. Trust Co. of Vermont boosted its position in shares of The Hartford Financial Services Group by 27.9% during the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider's stock worth $47,000 after acquiring an additional 88 shares during the last quarter. Bailard Inc. grew its position in shares of The Hartford Financial Services Group by 0.5% during the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider's stock valued at $1,948,000 after purchasing an additional 101 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of The Hartford Financial Services Group by 3.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider's stock worth $385,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd lifted its position in shares of The Hartford Financial Services Group by 28.8% in the first quarter. Covestor Ltd now owns 519 shares of the insurance provider's stock worth $54,000 after buying an additional 116 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in The Hartford Financial Services Group by 34.4% during the first quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider's stock valued at $46,000 after buying an additional 121 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

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.