Brokerages Set The Hartford Financial Services Group, Inc. (NYSE:HIG) PT at $122.00

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $122.28.

Several research analysts have issued reports on the company. Bank of America increased their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. BMO Capital Markets raised 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 raised 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 report on Monday. JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $109.10 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $114.59 and a 200-day simple moving average of $112.29. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The Hartford Financial Services Group has a 12-month low of $81.04 and a 12-month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.91%. The Hartford Financial Services Group’s payout ratio is 20.84%.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. DT Investment Partners LLC purchased a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $26,000. Clean Yield Group purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth $33,000. Quest Partners LLC grew its position in The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the period. BNP Paribas acquired a new stake in The Hartford Financial Services Group during the third quarter worth about $35,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth about $40,000. 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.