The Hartford Financial Services Group (NYSE:HIG) Upgraded 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 Friday morning.

A number of other research firms also recently issued reports on HIG. UBS Group raised their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their target price on 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. Jefferies Financial Group raised their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Barclays initiated coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $117.95 on Friday. The firm has a market capitalization of $34.19 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.97 and a beta of 0.94. The firm’s fifty day simple moving average is $116.51 and its 200-day simple moving average is $108.75. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group has a twelve month low of $75.36 and a twelve month high of $123.23.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is currently 18.84%.

The Hartford Financial Services Group announced that its Board of Directors has authorized a stock buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On The Hartford Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new position in The Hartford Financial Services Group in the 1st quarter valued at $26,000. DT Investment Partners LLC acquired a new position in The Hartford Financial Services Group in the third quarter valued at approximately $26,000. Quest Partners LLC boosted its stake in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group during the 2nd quarter worth $30,000. Finally, Family Firm Inc. bought a new stake in shares of The Hartford Financial Services Group during the 2nd quarter valued at $31,000. 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.