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 target price raised by Keefe, Bruyette & Woods from $135.00 to $139.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 31.37% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. increased their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Bank of America increased their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $122.50.

The Hartford Financial Services Group Stock Performance

HIG stock traded down $3.61 during trading hours on Friday, reaching $105.81. The stock had a trading volume of 449,449 shares, compared to its average volume of 1,112,941. The stock has a market capitalization of $30.67 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a 50-day simple moving average of $114.50 and a 200 day simple moving average of $112.25. The Hartford Financial Services Group has a fifty-two week low of $81.69 and a fifty-two week high of $124.90.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently made changes to their positions in HIG. Trust Co. of Vermont boosted its position in The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock worth $47,000 after buying an additional 88 shares during the period. Brooklyn Investment Group boosted its position in The Hartford Financial Services Group by 4.0% during the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after buying an additional 94 shares during the period. Catalina Capital Group LLC boosted its position in The Hartford Financial Services Group by 4.3% during the 3rd quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock worth $293,000 after buying an additional 102 shares during the period. Meeder Advisory Services Inc. boosted its position in The Hartford Financial Services Group by 1.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock worth $661,000 after buying an additional 104 shares during the period. Finally, Tectonic Advisors LLC boosted its position in The Hartford Financial Services Group by 2.6% during the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock worth $537,000 after buying an additional 114 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.