The Hartford Financial Services Group (NYSE:HIG) Shares Gap Down – Time to Sell?

The Hartford Financial Services Group, Inc. (NYSE:HIG) shares gapped down before the market opened on Friday . The stock had previously closed at $120.46, but opened at $113.73. The Hartford Financial Services Group shares last traded at $112.91, with a volume of 419,853 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on HIG. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group lifted their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Bank of America increased their price objective 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. Finally, Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.76.

The Hartford Financial Services Group Stock Performance

The stock has a market cap of $33.28 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company’s 50-day simple moving average is $116.06 and its 200-day simple moving average is $106.71. 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 (NYSE:HIG) last announced its earnings results on Thursday, October 24th. The insurance provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.04. 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 $4.67 billion for the quarter, compared to analyst estimates of $4.62 billion. Analysts predict that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in 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 usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On The Hartford Financial Services Group

Large investors have recently made changes to their positions in the company. DT Investment Partners LLC acquired a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group during the first quarter valued at $26,000. Clean Yield Group purchased a new stake in The Hartford Financial Services Group in the 3rd quarter worth about $33,000. Quest Partners LLC boosted its position in The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares during the period. Finally, Bank & Trust Co purchased a new position in The Hartford Financial Services Group during the 2nd quarter valued at about $30,000. 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.