Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for The Hartford Financial Services Group (NYSE:HIG) Stock

The Hartford Financial Services Group (NYSE:HIG) had its price target hoisted by Keefe, Bruyette & Woods from $139.00 to $140.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 24.96% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets raised their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Bank of America lifted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group lifted their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $112.04 on Wednesday. The stock has a market cap of $32.48 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The Hartford Financial Services Group has a 1-year low of $88.81 and a 1-year high of $124.90. The firm has a fifty day moving average price of $112.51 and a 200 day moving average price of $113.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, sell-side analysts anticipate that The Hartford Financial Services Group will post 11.46 EPS for the current year.

Insider Activity

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors have recently added to or reduced their stakes in the business. DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares during the period. Barrett & Company Inc. raised its position in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. Clean Yield Group acquired a new position in The Hartford Financial Services Group in the third quarter valued at $33,000. Finally, BNP Paribas acquired a new stake in The Hartford Financial Services Group during the third quarter worth about $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.