Barclays Upgrades The Hartford Financial Services Group (NYSE:HIG) to “Overweight”

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

A number of other research firms also recently commented on HIG. Bank of America increased their price objective on 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. Jefferies Financial Group boosted their price objective on shares of 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. BMO Capital Markets upped their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted 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, Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Nine 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.28.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $108.46 on Monday. The Hartford Financial Services Group has a 12 month low of $81.04 and a 12 month high of $124.90. 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 firm has a market capitalization of $31.44 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The business’s fifty day moving average price is $114.65 and its 200 day moving average price is $112.25.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Several hedge funds have recently modified their holdings of HIG. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group in the third quarter worth $26,000. Quest Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Clean Yield Group acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at about $33,000. BNP Paribas purchased a new stake in The Hartford Financial Services Group during the third quarter worth about $35,000. Finally, Ashton Thomas Securities LLC acquired a new position in The Hartford Financial Services Group during the third quarter worth about $40,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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.