The Hartford Financial Services Group (NYSE:HIG) Upgraded at Barclays

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

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Jefferies Financial Group increased their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.28.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $109.33 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $31.69 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The firm’s 50-day moving average is $114.53 and its two-hundred day moving average is $112.27. 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 business also recently disclosed 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. The ex-dividend date was 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 1.90%. The Hartford Financial Services Group’s payout ratio is currently 20.84%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its stake in The Hartford Financial Services Group by 27.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after buying an additional 48,004 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of The Hartford Financial Services Group by 7.1% in 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 during the last quarter. Dai ichi Life Insurance Company Ltd raised its position in shares of 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 in the last quarter. Lecap Asset Management Ltd. purchased a new stake in The Hartford Financial Services Group during the third quarter worth approximately $633,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in The Hartford Financial Services Group in the third quarter valued at approximately $19,005,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.