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 target price hoisted by BMO Capital Markets from $100.00 to $141.00 in a research note published on Wednesday,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group increased their target price on shares of 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. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Jefferies Financial Group raised their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised their price target 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, StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.00.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $123.74 on Wednesday. The Hartford Financial Services Group has a fifty-two week low of $76.65 and a fifty-two week high of $124.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a fifty day moving average price of $117.16 and a 200 day moving average price of $109.84. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. 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 1.68%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s payout ratio is presently 18.84%.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction on Friday, November 15th. The stock was 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 of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $26,000. DT Investment Partners LLC purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth about $26,000. Quest Partners LLC grew its holdings in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares during the period. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth about $30,000. Finally, Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth about $31,000. Institutional investors and hedge funds 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.