The Hartford Financial Services Group, Inc. (NYSE:HIG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $120.88.

Several equities analysts have commented on HIG shares. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective on the stock. UBS Group raised their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

Institutional Investors Weigh In On The Hartford Financial Services Group

Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont raised its position in The Hartford Financial Services Group by 27.9% in the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after buying an additional 88 shares during the last quarter. Bailard Inc. grew its stake in The Hartford Financial Services Group by 0.5% in the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after purchasing an additional 101 shares during the period. Catalina Capital Group LLC grew its position in The Hartford Financial Services Group by 4.3% during the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock valued at $293,000 after buying an additional 102 shares during the period. Meeder Advisory Services Inc. raised its position in The Hartford Financial Services Group by 1.9% in the third quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock worth $661,000 after acquiring an additional 104 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in The Hartford Financial Services Group by 3.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after acquiring an additional 114 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Price Performance

NYSE:HIG opened at $117.70 on Tuesday. 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 Hartford Financial Services Group has a 12-month low of $73.92 and a 12-month high of $123.23. The stock’s 50 day moving average price is $116.31 and its two-hundred day moving average price is $108.03. The firm has a market capitalization of $34.12 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.96 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.84%.

The Hartford Financial Services Group declared that its board has initiated a stock buyback plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.