The Hartford Financial Services Group (NYSE:HIG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a hold rating to a buy rating in a research note published on Monday.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets boosted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Trading Down 1.2 %

HIG opened at $115.82 on Monday. The firm’s fifty day simple moving average is $112.91 and its 200 day simple moving average is $114.84. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group has a 12 month low of $94.47 and a 12 month high of $124.90. The stock has a market capitalization of $33.05 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, research analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.80%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC grew its stake in The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares during the last quarter. Dai ichi Life Insurance Company Ltd grew its stake in The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after buying an additional 4,449 shares during the last quarter. Horizon Advisory Services Inc. acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at about $277,000. Zurich Insurance Group Ltd FI acquired a new position in The Hartford Financial Services Group in the 3rd quarter valued at about $19,005,000. Finally, Citigroup Inc. grew its stake in The Hartford Financial Services Group by 3.5% in the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after buying an additional 10,566 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.