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

The Hartford Financial Services Group, Inc. (NYSE:HIG) has been given an average rating of “Moderate Buy” by the eighteen analysts that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $122.00.

HIG has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets increased their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Bank of America lifted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price target 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.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $109.50 on Wednesday. The company has a market capitalization of $31.74 billion, a PE ratio of 10.97, a P/E/G ratio of 0.92 and a beta of 0.95. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $114.75 and a two-hundred day moving average price of $112.22. The Hartford Financial Services Group has a 12 month low of $81.04 and a 12 month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company also recently announced 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 a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in HIG. Concurrent Investment Advisors LLC bought a new stake in The Hartford Financial Services Group during the 2nd quarter worth approximately $213,000. Skandinaviska Enskilda Banken AB publ grew its holdings in The Hartford Financial Services Group by 27.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after buying an additional 48,004 shares in the last quarter. HighTower Advisors LLC lifted its stake in The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after acquiring an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after acquiring an additional 4,449 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter worth $633,000. 93.42% of the stock is owned by institutional investors.

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.