The Hartford Financial Services Group (NYSE:HIG) Upgraded at StockNews.com

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a hold rating to a buy rating in a research report released on Monday.

Several other research firms have also recently weighed in on HIG. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. BMO Capital Markets boosted their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler lifted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Nine 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $115.82 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company has a 50 day moving average price of $112.91 and a 200 day moving average price of $114.84. The Hartford Financial Services Group has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The stock has a market capitalization of $33.05 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Analysts forecast that The Hartford Financial Services Group will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Siemens Fonds Invest GmbH grew its holdings in shares of The Hartford Financial Services Group by 91.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 13,518 shares of the insurance provider’s stock valued at $1,479,000 after buying an additional 6,440 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at $29,749,000. Leigh Baldwin & CO. LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at $279,000. Armis Advisers LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at $381,000. Finally, Challenger Wealth Management bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at $716,000. Institutional investors and hedge funds 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.