The Hartford Financial Services Group (NYSE:HIG) Reaches New 1-Year High on Analyst Upgrade

The Hartford Financial Services Group, Inc. (NYSE:HIG) reached a new 52-week high during trading on Wednesday after BMO Capital Markets raised their price target on the stock from $100.00 to $141.00. BMO Capital Markets currently has a market perform rating on the stock. The Hartford Financial Services Group traded as high as $124.44 and last traded at $124.32, with a volume of 34919 shares changing hands. The stock had previously closed at $122.62.

Other research analysts have also recently issued reports about the company. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. UBS Group raised their target price on 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. Wells Fargo & Company increased their price target 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. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of institutional investors and hedge funds have recently bought and sold shares of HIG. Dimensional Fund Advisors LP raised its position in The Hartford Financial Services Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock worth $584,177,000 after acquiring an additional 69,007 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 valued at $150,605,000 after acquiring an additional 70,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of The Hartford Financial Services Group by 2.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock worth $137,478,000 after acquiring an additional 31,806 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of The Hartford Financial Services Group by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after acquiring an additional 40,400 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of The Hartford Financial Services Group by 22.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock worth $141,078,000 after purchasing an additional 221,778 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

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 firm has a market capitalization of $36.08 billion, a PE ratio of 12.29, a P/E/G ratio of 1.00 and a beta of 0.94. The firm has a fifty day moving average price of $117.02 and a 200 day moving average price of $109.75.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change 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 yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio is currently 18.84%.

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.