The Hartford Financial Services Group (NYSE:HIG) Upgraded by Barclays to “Overweight” Rating

Barclays upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat Ratings reports. Barclays currently has $135.00 target price on the insurance provider’s stock, up from their prior target price of $130.00.

A number of other brokerages have also weighed in on HIG. Wells Fargo & Company raised their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. 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. UBS Group upped their price objective 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. JPMorgan Chase & Co. raised 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. Finally, BMO Capital Markets upped their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.28.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $108.46 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The business has a 50 day simple moving average of $114.65 and a two-hundred day simple moving average of $112.25. The stock has a market capitalization of $31.44 billion, a P/E ratio of 10.87, a PEG 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 company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.92%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, December 2nd. The Hartford Financial Services Group’s dividend 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 firm’s 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 completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HIG. Trust Co. of Vermont lifted its holdings in The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock worth $47,000 after buying an additional 88 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of The Hartford Financial Services Group by 4.0% in the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 94 shares in the last quarter. Catalina Capital Group LLC boosted its holdings in The Hartford Financial Services Group by 4.3% in the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock valued at $293,000 after purchasing an additional 102 shares during the period. Meeder Advisory Services Inc. grew its stake in The Hartford Financial Services Group by 1.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock worth $661,000 after purchasing an additional 104 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in The Hartford Financial Services Group by 2.6% during the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock worth $537,000 after purchasing an additional 114 shares during the period. 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.