The Hartford Financial Services Group (NYSE:HIG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

The Hartford Financial Services Group (NYSE:HIG) had its price target lifted by analysts at Keefe, Bruyette & Woods from $133.00 to $135.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 19.77% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company upped 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 reduced their price objective on 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. Bank of America boosted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada raised 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 report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $112.72 on Tuesday. 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 company’s fifty day moving average price is $116.41 and its 200-day moving average price is $107.24. The stock has a market cap of $32.68 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The Hartford Financial Services Group has a 12 month low of $72.46 and a 12 month high of $123.23.

The Hartford Financial Services Group declared that its board has initiated a share buyback program on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after purchasing an additional 691,900 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of The Hartford Financial Services Group by 72.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after purchasing an additional 559,019 shares during the period. Swedbank AB purchased a new position in shares of The Hartford Financial Services Group in the first quarter worth approximately $53,980,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in The Hartford Financial Services Group by 301.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock valued at $34,316,000 after buying an additional 250,000 shares during the period. Finally, Nordea Investment Management AB increased its holdings in The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock valued at $328,320,000 after buying an additional 233,742 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.