Wells Fargo & Company Has Lowered Expectations for The Hartford Financial Services Group (NYSE:HIG) Stock Price

The Hartford Financial Services Group (NYSE:HIG) had its price target cut by Wells Fargo & Company from $134.00 to $130.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Jefferies Financial Group increased 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. Bank of America lifted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group increased 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. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.28.

The Hartford Financial Services Group Stock Up 1.1 %

HIG stock opened at $112.49 on Tuesday. The business’s 50-day simple moving average is $114.20 and its 200 day simple moving average is $112.48. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a market cap of $32.61 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98. The Hartford Financial Services Group has a twelve month low of $81.87 and a twelve month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were given a $0.52 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.84%.

Insider Buying and Selling

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 stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares in the last quarter. Quest Partners LLC increased its position in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares in the last quarter. Clean Yield Group bought a new position in The Hartford Financial Services Group during the third quarter worth about $33,000. Finally, BNP Paribas bought a new position in The Hartford Financial Services Group during the third quarter worth about $35,000. Institutional investors own 93.42% of the company’s stock.

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.