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 objective upped by equities researchers at Keefe, Bruyette & Woods from $135.00 to $139.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 31.37% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Jefferies Financial Group upped their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a report on Monday. JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, UBS Group increased their target price 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. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.50.

The Hartford Financial Services Group Stock Performance

NYSE:HIG traded down $3.61 during mid-day trading on Friday, hitting $105.81. 449,449 shares of the company’s stock traded hands, compared to its average volume of 1,112,941. The firm has a 50 day moving average of $114.50 and a two-hundred day moving average of $112.25. The Hartford Financial Services Group has a 12 month low of $81.69 and a 12 month high of $124.90. The firm has a market capitalization of $30.67 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’s 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 sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors have recently modified their holdings of HIG. Quest Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Hartford Financial Services Group during the second quarter worth $159,000. PFG Investments LLC increased its position in shares of The Hartford Financial Services Group by 6.4% during the second quarter. PFG Investments LLC now owns 2,493 shares of the insurance provider’s stock worth $251,000 after acquiring an additional 150 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in The Hartford Financial Services Group by 7.8% during the second quarter. Wedbush Securities Inc. now owns 5,990 shares of the insurance provider’s stock worth $602,000 after purchasing an additional 431 shares during the last quarter. Finally, Choreo LLC acquired a new position in The Hartford Financial Services Group during the second quarter worth $594,000. Institutional investors own 93.42% of the company’s stock.

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.