UBS Group Raises The Hartford Financial Services Group (NYSE:HIG) Price Target to $135.00

The Hartford Financial Services Group (NYSE:HIG) had its price target lifted by UBS Group from $134.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Other analysts also recently issued reports about the stock. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Bank of America boosted their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays began coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.59.

The Hartford Financial Services Group Stock Up 2.3 %

Shares of NYSE:HIG opened at $122.33 on Tuesday. The Hartford Financial Services Group has a 52-week low of $68.92 and a 52-week high of $123.23. The firm has a fifty day moving average of $115.06 and a 200 day moving average of $106.17. The firm has a market capitalization of $36.18 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. 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 (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share 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 the consensus estimate 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 firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. As a group, research analysts anticipate that The Hartford Financial Services Group will post 10.09 EPS for the current fiscal year.

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

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new stake in The Hartford Financial Services Group in the first quarter worth about $26,000. Quest Partners LLC grew its holdings in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares during the period. Bank & Trust Co purchased a new stake in The Hartford Financial Services Group in the second quarter worth about $30,000. Family Firm Inc. purchased a new stake in The Hartford Financial Services Group in the second quarter worth about $31,000. Finally, Clean Yield Group purchased a new stake in The Hartford Financial Services Group in the third quarter worth about $33,000. Hedge funds and other institutional investors 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.