The Hartford Financial Services Group (NYSE:HIG) Sets New 12-Month High After Analyst Upgrade

The Hartford Financial Services Group, Inc. (NYSE:HIG)’s stock price hit a new 52-week high during mid-day trading on Wednesday after BMO Capital Markets raised their price target on the stock from $100.00 to $141.00. BMO Capital Markets currently has a market perform rating on the stock. The Hartford Financial Services Group traded as high as $124.44 and last traded at $124.32, with a volume of 34919 shares changing hands. The stock had previously closed at $122.62.

Other research analysts have also issued reports about the company. Barclays assumed coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted 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. Bank of America increased their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its holdings in The Hartford Financial Services Group by 108.4% during the 1st quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider’s stock valued at $1,968,000 after purchasing an additional 9,932 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of The Hartford Financial Services Group by 6,384.1% during the first quarter. Plato Investment Management Ltd now owns 17,961 shares of the insurance provider’s stock worth $1,851,000 after acquiring an additional 17,684 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group during the first quarter valued at $26,000. Citizens Financial Group Inc. RI increased its position in The Hartford Financial Services Group by 7.2% in the first quarter. Citizens Financial Group Inc. RI now owns 5,220 shares of the insurance provider’s stock worth $538,000 after purchasing an additional 352 shares during the period. Finally, Virtu Financial LLC bought a new stake in The Hartford Financial Services Group during the 1st quarter worth about $2,788,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Up 1.5 %

The business’s 50-day simple moving average is $117.02 and its 200-day simple moving average is $109.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $36.08 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

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.