The Hartford Financial Services Group (NYSE:HIG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

The Hartford Financial Services Group (NYSE:HIG) had its price objective raised by equities research analysts at BMO Capital Markets from $100.00 to $141.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 13.95% from the company’s current price.

Other analysts have also issued reports about the stock. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective for the company. Jefferies Financial Group lifted their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Bank of America lifted their price target on shares of 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. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $122.00.

The Hartford Financial Services Group Stock Up 0.9 %

Shares of NYSE HIG opened at $123.74 on Wednesday. The firm has a fifty day simple moving average of $117.32 and a two-hundred day simple moving average of $109.94. The Hartford Financial Services Group has a 12 month low of $76.65 and a 12 month high of $124.90. 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 firm has a market capitalization of $35.87 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 0.94.

Insiders Place Their Bets

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 shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of The Hartford Financial Services Group

Several large investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after purchasing an additional 691,900 shares during the last quarter. Swedbank AB bought a new position in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $53,980,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of The Hartford Financial Services Group by 42.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after buying an additional 277,295 shares during the last quarter. Verition Fund Management LLC grew its position in The Hartford Financial Services Group by 7,564.9% during the third quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock valued at $29,243,000 after buying an additional 245,404 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in The Hartford Financial Services Group by 22.7% during the third 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 during the last quarter. Institutional investors own 93.42% of the company’s stock.

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.