The Hartford Financial Services Group (NYSE:HIG) Price Target Raised to $125.00 at JPMorgan Chase & Co.

The Hartford Financial Services Group (NYSE:HIG) had its target price upped by JPMorgan Chase & Co. from $122.00 to $125.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.75% from the stock’s current price.

A number of other research firms have also commented on HIG. Jefferies Financial Group raised their price objective on shares of 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. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.76.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG traded down $7.59 during trading hours on Friday, hitting $112.87. The stock had a trading volume of 1,045,560 shares, compared to its average volume of 1,591,523. The stock’s fifty day simple moving average is $116.06 and its 200 day simple moving average is $106.71. The Hartford Financial Services Group has a 1-year low of $68.92 and a 1-year high of $123.23. The firm has a market capitalization of $33.38 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.96 and a beta of 0.93. 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 (NYSE:HIG) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.04. 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 $4.67 billion for the quarter, compared to analyst estimates of $4.62 billion. Sell-side analysts anticipate that The Hartford Financial Services Group will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group announced that its Board of Directors has authorized a stock buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of The Hartford Financial Services Group

Large investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new stake in The Hartford Financial Services Group during the second quarter worth about $213,000. BNP Paribas Financial Markets lifted its holdings in The Hartford Financial Services Group by 27.1% in the first quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock valued at $47,073,000 after buying an additional 97,465 shares during the period. Sei Investments Co. raised its holdings in The Hartford Financial Services Group by 5.6% in the first quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after purchasing an additional 12,067 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in The Hartford Financial Services Group by 27.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after purchasing an additional 48,004 shares during the period. Finally, SteelPeak Wealth LLC raised its holdings in The Hartford Financial Services Group by 65.5% in the first quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock worth $3,584,000 after purchasing an additional 13,710 shares during the period. 93.42% of the stock is owned by institutional investors.

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.