StockNews.com Upgrades The Hartford Financial Services Group (NYSE:HIG) to “Buy”

The Hartford Financial Services Group (NYSE:HIG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

HIG has been the topic of a number of other reports. Jefferies Financial Group increased their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Piper Sandler raised their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods raised their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, 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 target price on the stock. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Stock Up 1.3 %

The Hartford Financial Services Group stock opened at $117.95 on Friday. The firm has a market cap of $34.19 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.97 and a beta of 0.94. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group has a twelve month low of $75.36 and a twelve month high of $123.23. The business has a fifty day moving average of $116.51 and a two-hundred day moving average of $108.59.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share 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 typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of The Hartford Financial Services Group

Several hedge funds have recently bought and sold shares of HIG. Avantax Advisory Services Inc. increased its holdings in shares of The Hartford Financial Services Group by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 122 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth $249,000. Blair William & Co. IL raised its position in The Hartford Financial Services Group by 6.4% in the first quarter. Blair William & Co. IL now owns 6,216 shares of the insurance provider’s stock valued at $641,000 after purchasing an additional 374 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of 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 during the period. Finally, Twin Tree Management LP acquired a new stake in The Hartford Financial Services Group during the first quarter worth approximately $3,133,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.