Barclays Upgrades The Hartford Financial Services Group (NYSE:HIG) to Overweight

Barclays upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from an equal weight rating to an overweight rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have $135.00 price objective on the insurance provider’s stock, up from their previous price objective of $130.00.

Several other research firms also recently commented on HIG. BMO Capital Markets upped their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. 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 note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. UBS Group upped their price objective 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. Finally, JPMorgan Chase & Co. lifted 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. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.28.

The Hartford Financial Services Group Trading Up 0.3 %

HIG opened at $109.33 on Monday. 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 Hartford Financial Services Group has a 52 week low of $81.04 and a 52 week high of $124.90. The business’s 50 day moving average is $114.53 and its two-hundred day moving average is $112.27. The firm has a market cap of $31.69 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98.

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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.84%.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction on Friday, November 15th. The stock was 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 directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIG. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group during the 3rd quarter valued at about $26,000. Quest Partners LLC increased its stake in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Clean Yield Group purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $33,000. BNP Paribas acquired a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $35,000. Finally, Ashton Thomas Securities LLC purchased a new stake in The Hartford Financial Services Group in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.