Hartford Financial Services Group Inc. (NYSE:HIG) reached an all-time high of $119.07, with a 64.11% increase over the past year. This growth showcases the company’s strong financial health, driving investor confidence.
Recently, Hartford reported impressive second-quarter results with core earnings of $750 million and growth in Commercial and Personal Lines by 11% and 14%. They also announced a $3.3 billion share buyback plan. However, board member Greig Woodring resigned unexpectedly.
Analysts have mixed views: BofA downgraded the stock from Buy to Neutral but raised the price target to $121. Barclays set a price target of $130 with an Equal Weight rating. Citi increased its target to $118, Jefferies to $113, Piper Sandler to $125, and RBC to $115.
InvestingPro Insights
Hartford’s recent stock rise is backed by several strong financial indicators. The stock delivered a 70.3% total return over the past year and has a low P/E ratio of 12.29, suggesting potential undervaluation. The company has increased its dividend for 11 years and maintained payments for 29 years, with a growth rate of 10.59% in the last year. A high Piotroski Score of 9 indicates solid financial health, contributing to investor confidence. Additionally, revenue grew by 8.15%, and EBITDA increased by 30.53% over the last year, highlighting improved efficiency.
For more detailed analysis, InvestingPro offers 13 additional tips about Hartford Financial.
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