The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $135.00 at Keefe, Bruyette & Woods

The Hartford Financial Services Group (NYSE:HIG) had its price target upped by equities researchers at Keefe, Bruyette & Woods from $133.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 19.41% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Barclays initiated coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. Wells Fargo & Company lifted their price target 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, Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $120.88.

The Hartford Financial Services Group Trading Down 0.3 %

Shares of HIG traded down $0.33 during mid-day trading on Tuesday, hitting $113.06. The company had a trading volume of 377,130 shares, compared to its average volume of 1,595,570. The business’s 50-day simple moving average is $116.35 and its 200-day simple moving average is $107.10. 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 Hartford Financial Services Group has a 1-year low of $71.16 and a 1-year high of $123.23. The stock has a market cap of $33.44 billion, a PE ratio of 12.85, a P/E/G ratio of 0.99 and a beta of 0.93.

The Hartford Financial Services Group announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of The Hartford Financial Services Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of The Hartford Financial Services Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after purchasing an additional 69,007 shares during the period. Nordea Investment Management AB increased its holdings in The Hartford Financial Services Group by 7.9% in the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock worth $328,320,000 after buying an additional 233,742 shares during the last quarter. AQR Capital Management LLC increased its holdings in The Hartford Financial Services Group by 4.9% in the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after buying an additional 70,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in The Hartford Financial Services Group by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock worth $137,478,000 after buying an additional 31,806 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in The Hartford Financial Services Group by 3.4% in the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after buying an additional 40,400 shares during the last quarter. 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.