The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $133.00 at Keefe, Bruyette & Woods

The Hartford Financial Services Group (NYSE:HIG) had its price target hoisted by Keefe, Bruyette & Woods from $120.00 to $133.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

HIG has been the topic of several other research reports. Bank of America dropped their target price on The Hartford Financial Services Group from $113.00 to $111.00 and set a buy rating on the stock in a report on Thursday, July 11th. Evercore ISI lifted their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an in-line rating in a report on Thursday, April 11th. TD Cowen boosted their price target on shares of The Hartford Financial Services Group to $144.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Citigroup lowered shares of The Hartford Financial Services Group from a buy rating to a neutral rating and reduced their price objective for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Finally, Morgan Stanley cut their target price 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 note on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of Moderate Buy and an average target price of $110.88.

The Hartford Financial Services Group Stock Performance

NYSE:HIG traded down $3.46 during midday trading on Thursday, reaching $105.18. 877,711 shares of the company traded hands, compared to its average volume of 1,666,505. The Hartford Financial Services Group has a twelve month low of $68.82 and a twelve month high of $112.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The company has a fifty day moving average price of $102.40 and a 200 day moving average price of $98.57. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92.

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, topping 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 quarter in the prior year, the firm earned $1.88 earnings per share. On average, analysts expect that The Hartford Financial Services Group will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group announced that its board has initiated a share repurchase plan on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 10.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.79%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Insiders have sold 94,499 shares of company stock worth $9,449,309 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Financial Services Group

Large investors have recently modified their holdings of the company. Bailard Inc. boosted its position in shares of The Hartford Financial Services Group by 0.5% in the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after acquiring an additional 101 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in 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 valued at $385,000 after buying an additional 114 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of The Hartford Financial Services Group by 8.9% in the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock worth $114,000 after acquiring an additional 116 shares in the last quarter. Covestor Ltd grew its position in The Hartford Financial Services Group by 28.8% during the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 116 shares during the last quarter. Finally, United Asset Strategies Inc. grew its holdings in shares of The Hartford Financial Services Group by 4.3% during the first quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock worth $302,000 after purchasing an additional 121 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

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.