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

The Hartford Financial Services Group (NYSE:HIG) had its target price lifted by stock analysts at Keefe, Bruyette & Woods from $120.00 to $133.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 21.17% from the stock’s current price.

Several other brokerages have also commented on HIG. Argus increased their price target on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Roth Mkm raised their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Bank of America lowered their target price on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Evercore ISI increased their price target 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. Finally, Royal Bank of Canada raised their target price 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. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.88.

The Hartford Financial Services Group Stock Performance

HIG stock traded down $1.16 during trading on Thursday, reaching $109.76. The company had a trading volume of 160,003 shares, compared to its average volume of 1,662,183. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group has a twelve month low of $68.82 and a twelve month high of $112.65. The firm has a 50-day simple moving average of $102.07 and a 200-day simple moving average of $98.08. The company has a market cap of $32.16 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the business posted $1.88 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that The Hartford Financial Services Group will post 10.01 earnings per share for the current year.

The Hartford Financial Services Group announced that its board has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, the executive vice president now directly owns 14,818 shares in the company, valued at $1,503,582.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group 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 transaction, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,499 shares of company stock worth $9,449,309. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Interchange Capital Partners LLC purchased a new position in The Hartford Financial Services Group during the 2nd quarter valued at about $336,000. Aptus Capital Advisors LLC grew its stake in The Hartford Financial Services Group by 10.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 3,415 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 333 shares in the last quarter. Farther Finance Advisors LLC grew its stake in The Hartford Financial Services Group by 110.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,912 shares of the insurance provider’s stock valued at $291,000 after acquiring an additional 1,526 shares in the last quarter. Graypoint LLC grew its stake in The Hartford Financial Services Group by 6.0% during the 2nd quarter. Graypoint LLC now owns 3,918 shares of the insurance provider’s stock valued at $394,000 after acquiring an additional 223 shares in the last quarter. Finally, Spire Wealth Management grew its stake in The Hartford Financial Services Group by 41.4% during the 2nd quarter. Spire Wealth Management now owns 2,963 shares of the insurance provider’s stock valued at $298,000 after acquiring an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About The Hartford Financial Services Group

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.