The Hartford Financial Services Group (NYSE:HIG) PT Raised to $135.00 at UBS Group

The Hartford Financial Services Group (NYSE:HIG) had its price objective hoisted by equities research analysts at UBS Group from $134.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. UBS Group’s target price indicates a potential upside of 12.86% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Bank of America upped their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays initiated coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. Piper Sandler increased their price target on shares of 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. Royal Bank of Canada boosted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $116.00 to $114.00 in a research report on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.59.

The Hartford Financial Services Group Price Performance

NYSE:HIG opened at $119.62 on Tuesday. The Hartford Financial Services Group has a 12-month low of $68.92 and a 12-month high of $120.36. The firm has a market cap of $35.38 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company’s 50-day moving average is $114.76 and its two-hundred day moving average is $106.06. The company has a current ratio of 0.32, a quick 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, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The firm had revenue of $6.49 billion for 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 Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. Research analysts expect that The Hartford Financial Services Group will post 10.09 EPS for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Trust Co. of Vermont boosted its stake in shares of The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after buying an additional 88 shares during the last quarter. Naviter Wealth LLC lifted its stake in The Hartford Financial Services Group by 11.9% during the third quarter. Naviter Wealth LLC now owns 4,010 shares of the insurance provider’s stock worth $474,000 after purchasing an additional 426 shares during the last quarter. Kowal Investment Group LLC boosted its holdings in shares of The Hartford Financial Services Group by 18.6% in the 3rd quarter. Kowal Investment Group LLC now owns 3,374 shares of the insurance provider’s stock valued at $397,000 after buying an additional 529 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of The Hartford Financial Services Group by 1.3% during the third quarter. Vontobel Holding Ltd. now owns 10,493 shares of the insurance provider’s stock valued at $1,234,000 after purchasing an additional 133 shares during the last quarter. Finally, Sunpointe LLC bought a new position in The Hartford Financial Services Group during the 3rd quarter worth $213,000. 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.