The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $113.22 Average Price Target from Analysts

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $113.22.

A number of equities analysts recently weighed in on HIG shares. Wells Fargo & Company upped their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price target on The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Morgan Stanley lowered their price objective on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th.

The Hartford Financial Services Group Trading Up 0.2 %

NYSE:HIG opened at $116.77 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The business’s 50-day simple moving average is $111.64 and its 200-day simple moving average is $104.38. The Hartford Financial Services Group has a fifty-two week low of $68.82 and a fifty-two week high of $117.84. The stock has a market capitalization of $34.54 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that The Hartford Financial Services Group will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group declared that its board has approved a stock buyback 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 purchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

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 completion of the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of institutional investors have recently made changes to their positions in HIG. Hotchkis & Wiley Capital Management LLC lifted its holdings in The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after purchasing an additional 1,272,290 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of The Hartford Financial Services Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock worth $584,177,000 after buying an additional 69,007 shares in the last quarter. Northern Trust Corp boosted its position in shares of The Hartford Financial Services Group by 0.5% in the fourth quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock valued at $271,841,000 after acquiring an additional 18,419 shares during the period. Nordea Investment Management AB increased its position in The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock worth $328,320,000 after acquiring an additional 233,742 shares during the period. Finally, AQR Capital Management LLC raised its stake in The Hartford Financial Services Group by 4.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after purchasing an additional 70,018 shares in the last quarter. 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.