Hartford Financial Services Group, Inc. (The) (HIG) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Hartford Financial Services Group, Inc. (The) (NYSE:HIG) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Other analysts have also issued reports about the stock. Deutsche Bank AG initiated coverage on shares of Hartford Financial Services Group, Inc. (The) in a research note on Tuesday, June 6th. They set a buy rating and a $60.00 price objective for the company. ValuEngine raised shares of Hartford Financial Services Group, Inc. (The) from a hold rating to a buy rating in a research note on Friday, June 2nd. Credit Suisse Group set a $51.00 price objective on shares of Hartford Financial Services Group, Inc. (The) and gave the company a hold rating in a research note on Sunday, April 30th. Wells Fargo & Company reaffirmed a hold rating on shares of Hartford Financial Services Group, Inc. (The) in a research note on Tuesday, April 18th. Finally, Zacks Investment Research lowered shares of Hartford Financial Services Group, Inc. (The) from a buy rating to a hold rating in a research note on Friday, February 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Hartford Financial Services Group, Inc. (The) has an average rating of Hold and an average price target of $51.17.

Hartford Financial Services Group, Inc. (HIG) traded up 1.04% during trading on Friday, hitting $52.41. 4,217,352 shares of the stock were exchanged. Hartford Financial Services Group, Inc. has a 12-month low of $38.92 and a 12-month high of $52.41. The stock’s 50-day moving average price is $49.69 and its 200-day moving average price is $48.57. The firm has a market cap of $19.25 billion, a PE ratio of 21.31 and a beta of 0.93.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 27th. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by $0.02. Hartford Financial Services Group, Inc. (The) had a net margin of 5.12% and a return on equity of 7.48%. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company posted $0.78 earnings per share. Hartford Financial Services Group, Inc. (The)’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Hartford Financial Services Group, Inc. will post $4.18 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, May 30th. Hartford Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is 37.70%.

Hedge funds have recently bought and sold shares of the company. Westside Investment Management Inc. raised its stake in Hartford Financial Services Group, Inc. (The) by 85.8% in the first quarter. Westside Investment Management Inc. now owns 2,165 shares of the insurance provider’s stock worth $103,000 after buying an additional 1,000 shares during the period. Quadrant Capital Group LLC raised its stake in Hartford Financial Services Group, Inc. (The) by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 2,293 shares of the insurance provider’s stock worth $106,000 after buying an additional 10 shares during the period. Hartford Financial Management Inc. raised its stake in Hartford Financial Services Group, Inc. (The) by 489.6% in the first quarter. Hartford Financial Management Inc. now owns 2,653 shares of the insurance provider’s stock worth $127,000 after buying an additional 2,203 shares during the period. Advisory Services Network LLC bought a new stake in Hartford Financial Services Group, Inc. (The) during the first quarter worth about $163,000. Finally, Coconut Grove Bank raised its stake in Hartford Financial Services Group, Inc. (The) by 65.4% in the first quarter. Coconut Grove Bank now owns 3,440 shares of the insurance provider’s stock worth $165,000 after buying an additional 1,360 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

About Hartford Financial Services Group, Inc. (The)

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