The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $135.00 at UBS Group

The Hartford Financial Services Group (NYSE:HIG) had its price target boosted by UBS Group from $134.00 to $135.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

HIG has been the subject of several other reports. Piper Sandler increased their price objective on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Bank of America raised their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Morgan Stanley decreased their target price 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 note on Wednesday, July 10th. Finally, Wells Fargo & Company boosted their target price on 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. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $120.59.

The Hartford Financial Services Group Stock Down 0.3 %

Shares of NYSE HIG opened at $122.02 on Tuesday. The Hartford Financial Services Group has a 52-week low of $68.92 and a 52-week high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $115.34 and its 200-day simple moving average is $106.30. The firm has a market cap 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 Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data 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 Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business earned $1.88 EPS. The Hartford Financial Services Group’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that The Hartford Financial Services Group will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group declared that its Board of Directors has authorized a stock buyback program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of The Hartford Financial Services Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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 valued at $137,633,000 after buying an additional 559,019 shares during the period. Swedbank AB purchased a new stake in The Hartford Financial Services Group during the first quarter worth about $53,980,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of 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 worth $34,316,000 after purchasing an additional 250,000 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of 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 worth $328,320,000 after purchasing an additional 233,742 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of The Hartford Financial Services Group in the first quarter valued at approximately $21,709,000. Hedge funds and other 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.