The Hartford Financial Services Group (NYSE:HIG) Price Target Lowered to $130.00 at Wells Fargo & Company

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

Several other brokerages have also recently commented on HIG. UBS Group raised 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. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Bank of America raised their price target 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. Jefferies Financial Group upped their price objective on 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. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.28.

The Hartford Financial Services Group Trading Up 1.7 %

The Hartford Financial Services Group stock opened at $109.36 on Tuesday. The Hartford Financial Services Group has a 12 month low of $81.87 and a 12 month high of $124.90. The stock has a market cap of $31.70 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The business has a 50 day moving average price of $114.31 and a two-hundred day moving average price of $112.49. 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 business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.52 per share. This is a boost 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 1.90%. The ex-dividend date of this dividend was Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is 20.84%.

Insider Activity

In related 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 value of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HIG. Nordea Investment Management AB grew its position in shares of The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after buying an additional 581,103 shares during the period. AQR Capital Management LLC grew its holdings in The Hartford Financial Services Group by 4.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after acquiring an additional 70,018 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of The Hartford Financial Services Group by 22.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after acquiring an additional 221,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of The Hartford Financial Services Group by 42.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after purchasing an additional 277,295 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the last quarter. 93.42% of the stock is currently 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.