The Hartford Financial Services Group (NYSE:HIG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of The Hartford Financial Services Group (NYSE:HIG - Free Report) from a hold rating to a buy rating in a research note released on Friday.

A number of other research firms also recently weighed in on HIG. UBS Group raised their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Bank of America boosted their price target on 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. Finally, Wells Fargo & Company boosted 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 report on Tuesday, September 17th. 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. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of "Moderate Buy" and an average price target of $120.88.

The Hartford Financial Services Group Trading Up 0.7 %

NYSE:HIG traded up $0.87 during mid-day trading on Friday, hitting $117.30. The company had a trading volume of 430,318 shares, compared to its average volume of 1,595,044. The Hartford Financial Services Group has a fifty-two week low of $75.36 and a fifty-two week high of $123.23. The business's fifty day moving average is $116.44 and its two-hundred day moving average is $108.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $34.00 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.97 and a beta of 0.94.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 18.84%.

Institutional Trading of The Hartford Financial Services Group

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in The Hartford Financial Services Group by 1.2% during 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 during the last quarter. AQR Capital Management LLC boosted its holdings in The Hartford Financial Services Group by 4.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider's stock worth $150,605,000 after buying an additional 70,018 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in The Hartford Financial Services Group by 2.4% in the 2nd 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 in the last quarter. Bahl & Gaynor Inc. lifted its stake in The Hartford Financial Services Group by 3.4% in the 2nd 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of The Hartford Financial Services Group by 22.7% during 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 buying an additional 221,778 shares in the last quarter. 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.