The Hartford Financial Services Group (NYSE:HIG) Rating Increased to Buy 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 report published on Monday.

Other analysts have also issued research reports about the stock. Piper Sandler upped 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. BMO Capital Markets upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Stock Down 0.4 %

The Hartford Financial Services Group stock opened at $117.34 on Monday. The stock has a market cap of $33.49 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The firm’s 50-day simple moving average is $112.63 and its 200 day simple moving average is $114.80.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. Research analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several large investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its holdings in shares of The Hartford Financial Services Group by 91.0% in the fourth quarter. Siemens Fonds Invest GmbH now owns 13,518 shares of the insurance provider’s stock worth $1,479,000 after buying an additional 6,440 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in The Hartford Financial Services Group during the fourth quarter valued at $29,749,000. Leigh Baldwin & CO. LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth about $279,000. Armis Advisers LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth about $381,000. Finally, Challenger Wealth Management bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth about $716,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.