BMO Capital Markets Forecasts Strong Price Appreciation for The Hartford Financial Services Group (NYSE:HIG) Stock

The Hartford Financial Services Group (NYSE:HIG) had its target price hoisted by BMO Capital Markets from $100.00 to $141.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

A number of other equities analysts have also recently weighed in on HIG. Barclays initiated coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price target for the company. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. UBS Group lifted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Ten 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

The Hartford Financial Services Group Stock Up 0.9 %

NYSE HIG opened at $123.74 on Wednesday. The stock has a market cap of $35.87 billion, a PE ratio of 12.40, a P/E/G ratio of 1.00 and a beta of 0.94. The Hartford Financial Services Group has a fifty-two week low of $76.65 and a fifty-two week high of $124.90. The business has a 50 day moving average price of $117.16 and a two-hundred day moving average price of $109.84. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. This is an increase 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 dividend yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

Insider Buying and Selling

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 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 $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of The Hartford Financial Services Group

Hedge funds have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in The Hartford Financial Services Group during the 1st quarter worth approximately $26,000. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group during the 3rd quarter worth $26,000. Quest Partners LLC lifted its holdings in 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 buying an additional 275 shares during the period. Bank & Trust Co acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth about $30,000. Finally, Family Firm Inc. acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth about $31,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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.