BMO Capital Markets Issues Positive Forecast for The Hartford Financial Services Group (NYSE:HIG) Stock Price

The Hartford Financial Services Group (NYSE:HIG) had its price target hoisted by BMO Capital Markets from $100.00 to $141.00 in a report published on Wednesday,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

HIG has been the subject of a number of other reports. Jefferies Financial Group upped their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted 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 research note on Friday, October 25th. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.00.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $123.31 on Wednesday. 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 stock has a market cap of $35.75 billion, a PE ratio of 12.36, a P/E/G ratio of 1.02 and a beta of 0.94. The Hartford Financial Services Group has a 12-month low of $76.65 and a 12-month high of $124.90. The business’s 50-day moving average price is $117.46 and its two-hundred day moving average price is $110.16.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a $0.52 dividend. 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 annualized dividend and a dividend yield of 1.69%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of The Hartford Financial Services Group by 108.4% in the first quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider’s stock valued at $1,968,000 after buying an additional 9,932 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in The Hartford Financial Services Group in the 1st quarter valued at about $26,000. Citizens Financial Group Inc. RI lifted its position in The Hartford Financial Services Group by 7.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 5,220 shares of the insurance provider’s stock valued at $538,000 after acquiring an additional 352 shares in the last quarter. Swedbank AB acquired a new position in The Hartford Financial Services Group during the 1st quarter valued at about $53,980,000. Finally, Atria Investments Inc bought a new stake in The Hartford Financial Services Group during the 1st quarter worth approximately $1,328,000. 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.