BMO Capital Markets Forecasts Strong Price Appreciation for The Hartford Financial Services Group (NYSE:HIG) Stock

The Hartford Financial Services Group (NYSE:HIG) had its target price increased by research analysts at BMO Capital Markets from $100.00 to $141.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 15.00% from the company’s previous close.

Several other equities analysts also recently weighed in on HIG. Jefferies Financial Group increased their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Finally, UBS Group boosted 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. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

The Hartford Financial Services Group Trading Up 0.9 %

Shares of HIG stock opened at $122.61 on Wednesday. The Hartford Financial Services Group has a twelve month low of $76.65 and a twelve month high of $123.23. The company has a market capitalization of $35.54 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.00 and a beta of 0.94. The firm has a 50-day moving average price of $117.02 and a 200 day moving average price of $109.75. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Insider Activity 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 shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several institutional investors have recently made changes to their positions in HIG. International Assets Investment Management LLC boosted its stake in The Hartford Financial Services Group by 31,680.4% during the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after purchasing an additional 691,900 shares during the period. Swedbank AB acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth approximately $53,980,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after buying an additional 277,295 shares during the period. Verition Fund Management LLC grew its holdings in The Hartford Financial Services Group by 7,564.9% in the 3rd quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock worth $29,243,000 after buying an additional 245,404 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in The Hartford Financial Services Group by 22.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after acquiring an additional 221,778 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Company Profile

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.