The Hartford Financial Services Group, Inc. (NYSE:HIG) Given Average Rating of “Moderate Buy” by Analysts

The Hartford Financial Services Group, Inc. (NYSE:HIG) has earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $120.59.

Several equities analysts recently commented on HIG shares. Morgan Stanley decreased their price objective on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada increased 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 report on Monday, July 29th.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $120.08 on Friday. The firm has a market cap of $35.51 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.96 and a beta of 0.93. The firm has a 50-day simple moving average of $115.86 and a two-hundred day simple moving average of $106.62. The Hartford Financial Services Group has a one year low of $68.92 and a one year high of $123.23. 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 Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 earnings per share. On average, equities analysts forecast 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 approved a share repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIG. HighPoint Advisor Group LLC acquired a new stake in The Hartford Financial Services Group during the 4th quarter worth $215,000. Nomura Holdings Inc. acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $486,000. CWM LLC boosted its position in shares of The Hartford Financial Services Group by 8.1% during the 1st quarter. CWM LLC now owns 12,244 shares of the insurance provider’s stock valued at $1,262,000 after acquiring an additional 921 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of The Hartford Financial Services Group by 36.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 22,187 shares of the insurance provider’s stock valued at $2,286,000 after acquiring an additional 5,913 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $174,000. Institutional investors and hedge funds 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.