The Hartford Financial Services Group (NYSE:HIG - Get Free Report) had its target price lifted by equities 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' price objective suggests a potential upside of 13.95% from the stock's current price.
A number of other brokerages have also recently commented on HIG. Wells Fargo & Company lifted their price objective 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. Barclays initiated coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $130.00 price target for the company. Bank of America increased their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Finally, Jefferies Financial Group raised their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $122.00.
Get Our Latest Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Trading Up 0.9 %
HIG stock traded up $1.12 during midday trading on Wednesday, reaching $123.74. The company's stock had a trading volume of 1,044,597 shares, compared to its average volume of 1,593,472. The business's 50-day simple moving average is $117.02 and its 200-day simple moving average is $109.75. The stock has a market cap of $35.87 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.00 and a beta of 0.94. The Hartford Financial Services Group has a 52 week low of $76.65 and a 52 week high of $124.90. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.
Insiders Place Their Bets
In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in HIG. Tidal Investments LLC increased its holdings in The Hartford Financial Services Group by 108.4% during the first quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider's stock worth $1,968,000 after buying an additional 9,932 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter worth about $26,000. Citizens Financial Group Inc. RI raised its holdings in shares of The Hartford Financial Services Group by 7.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 5,220 shares of the insurance provider's stock valued at $538,000 after purchasing an additional 352 shares during the period. Swedbank AB acquired a new stake in The Hartford Financial Services Group in the 1st quarter valued at about $53,980,000. Finally, Atria Investments Inc bought a new position in The Hartford Financial Services Group during the first quarter worth about $1,328,000. Institutional investors and hedge funds own 93.42% of the company's stock.
The Hartford Financial Services Group Company Profile
(
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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.
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