The Hartford Financial Services Group (NYSE:HIG) Reaches New 1-Year High Following Analyst Upgrade

The Hartford Financial Services Group, Inc. (NYSE:HIG)’s share 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. The stock had previously closed at $122.62.

Other research analysts also recently issued reports about the stock. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company upped their price target 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. Jefferies Financial Group lifted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted 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. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $122.00.

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 transaction of $803,479.60. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of HIG. International Assets Investment Management LLC lifted its position in shares of The Hartford Financial Services Group by 31,680.4% during the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after buying an additional 691,900 shares during the last quarter. Swedbank AB purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth about $53,980,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of The Hartford Financial Services Group by 42.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after acquiring an additional 277,295 shares during the period. Verition Fund Management LLC boosted its holdings in The Hartford Financial Services Group by 7,564.9% in the 3rd quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock valued at $29,243,000 after purchasing an additional 245,404 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in The Hartford Financial Services Group by 22.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock worth $141,078,000 after buying an additional 221,778 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Up 0.9 %

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 company has a fifty day moving average price of $117.16 and a 200 day moving average price of $109.84. The company has a market cap of $35.87 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is currently 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.