The Hartford Financial Services Group, Inc. (NYSE:HIG) Given Average Rating of “Moderate Buy” by Analysts

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have been given an average rating of “Moderate Buy” by the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $113.22.

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted 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. Bank of America decreased their price target on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. raised its position in shares of The Hartford Financial Services Group by 2.0% in the 4th quarter. D.A. Davidson & CO. now owns 19,284 shares of the insurance provider’s stock worth $1,550,000 after acquiring an additional 378 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in The Hartford Financial Services Group by 2.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,800 shares of the insurance provider’s stock worth $1,350,000 after purchasing an additional 479 shares in the last quarter. Commerce Bank lifted its stake in The Hartford Financial Services Group by 2.9% in the fourth quarter. Commerce Bank now owns 11,026 shares of the insurance provider’s stock valued at $886,000 after buying an additional 312 shares during the period. Team Hewins LLC bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $286,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of The Hartford Financial Services Group by 1.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 85,075 shares of the insurance provider’s stock valued at $6,838,000 after acquiring an additional 854 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $116.77 on Monday. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.94 and a beta of 0.93. The Hartford Financial Services Group has a fifty-two week low of $68.82 and a fifty-two week high of $117.84. 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 stock has a fifty day moving average price of $111.64 and a 200-day moving average price of $104.38.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data 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 Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. The Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year. As a group, equities 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 has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Dividend Announcement

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

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.