Brokerages Set The Hartford Financial Services Group, Inc. (NYSE:HIG) PT at $120.88

The Hartford Financial Services Group, Inc. (NYSE:HIG) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Nine investment 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 price objective among brokerages that have covered the stock in the last year is $120.88.

Several equities analysts recently issued reports on HIG shares. Royal Bank of Canada boosted their target price on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Piper Sandler lifted their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Bank of America boosted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in The Hartford Financial Services Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after buying an additional 69,007 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of The Hartford Financial Services Group by 4.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock valued at $150,605,000 after acquiring an additional 70,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in The Hartford Financial Services Group by 2.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock worth $137,478,000 after purchasing an additional 31,806 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in The Hartford Financial Services Group by 3.4% during the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after purchasing an additional 40,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings 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 purchasing an additional 221,778 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 1.3 %

Shares of NYSE:HIG opened at $117.95 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group has a 12-month low of $75.36 and a 12-month high of $123.23. The business has a 50 day moving average of $116.51 and a two-hundred day moving average of $108.59. The company has a market capitalization of $34.19 billion, a PE ratio of 11.82, a PEG ratio of 0.97 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be issued a $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

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