The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives $122.00 Average Target Price from Brokerages

The Hartford Financial Services Group, Inc. (NYSE:HIG) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $122.00.

A number of brokerages recently issued reports on HIG. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Bank of America increased their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. UBS Group upped their target price on 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, Jefferies Financial Group lifted their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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 the business. GAMMA Investing LLC lifted its position in shares of The Hartford Financial Services Group by 6.1% in the fourth quarter. GAMMA Investing LLC now owns 10,064 shares of the insurance provider’s stock worth $1,101,000 after purchasing an additional 581 shares in the last quarter. Versant Capital Management Inc lifted its position in The Hartford Financial Services Group by 62.6% in the 4th quarter. Versant Capital Management Inc now owns 470 shares of the insurance provider’s stock worth $51,000 after buying an additional 181 shares in the last quarter. Principal Financial Group Inc. lifted its position in The Hartford Financial Services Group by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 353,873 shares of the insurance provider’s stock worth $41,619,000 after buying an additional 6,605 shares in the last quarter. SMART Wealth LLC acquired a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at $258,000. Finally, Peapack Gladstone Financial Corp purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at $420,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.4 %

Shares of HIG stock opened at $109.50 on Wednesday. The Hartford Financial Services Group has a 1 year low of $81.04 and a 1 year high of $124.90. The firm has a market capitalization of $31.74 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95. The stock has a fifty day moving average of $114.81 and a two-hundred day moving average of $112.02. 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 Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 2nd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is 20.84%.

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.