Analysts Set The Hartford Financial Services Group, Inc. (NYSE:HIG) PT at $110.88

The Hartford Financial Services Group, Inc. (NYSE:HIG) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $110.88.

A number of research firms recently issued reports on HIG. The Goldman Sachs Group upped 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 note on Thursday, June 13th. Bank of America decreased their price objective 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. Roth Mkm lifted their price objective on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Citigroup downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Finally, Wells Fargo & Company decreased their price target on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the 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 sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently added to or reduced their stakes in the stock. Bailard Inc. boosted its position in shares of The Hartford Financial Services Group by 0.5% in the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock worth $1,948,000 after buying an additional 101 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in shares of The Hartford Financial Services Group by 3.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after buying an additional 114 shares during the period. MV Capital Management Inc. lifted its position in The Hartford Financial Services Group by 8.9% during the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock worth $114,000 after acquiring an additional 116 shares in the last quarter. Covestor Ltd boosted its holdings in The Hartford Financial Services Group by 28.8% in the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 116 shares during the period. Finally, United Asset Strategies Inc. grew its position in The Hartford Financial Services Group by 4.3% in the first quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock valued at $302,000 after acquiring an additional 121 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Up 0.7 %

The Hartford Financial Services Group stock opened at $108.20 on Friday. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92. 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 has a fifty-two week low of $68.82 and a fifty-two week high of $112.65. The stock’s fifty day moving average is $102.89 and its two-hundred day moving average is $99.22.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm posted $1.88 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that The Hartford Financial Services Group will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

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

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.