Hartford Financial Services Group, Inc. (The) (NYSE:HIG) Stock Rating Lowered by Zacks Investment Research

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “The shares of Hartford Financial have gained 10.6% year to date, outperforming the Zacks categorized Multi Line Insurance industry that increased only 5.4%. The company is well poised for long-term growth, given its strong foothold in the property and casualty market, actions taken to improve risk profile and efficient capital deployments. Its capital management strategies also impress. The company has also been witnessing favorable estimate revision. Over past 30 days, the Zacks Consensus Estimate has significantly increased for the current quarter, the current year and also the next year. However, the company’s exposure to catastrophes and a challenging regulatory environment raise concern. Also, the weak Talcott Resolution segment is a drag. High loss ratio in the Personal lines segment is another headwind.”

A number of other equities research analysts have also recently weighed in on HIG. Credit Suisse Group set a $51.00 price objective on Hartford Financial Services Group, Inc. (The) and gave the company a “hold” rating in a research note on Sunday, April 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Hartford Financial Services Group, Inc. (The) in a research note on Wednesday, June 28th. BidaskClub raised Hartford Financial Services Group, Inc. (The) from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. J P Morgan Chase & Co dropped their price objective on Hartford Financial Services Group, Inc. (The) from $51.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, April 3rd. Finally, Barclays PLC lifted their price objective on Hartford Financial Services Group, Inc. (The) from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $53.45.

Shares of Hartford Financial Services Group, Inc. (NYSE HIG) traded up 0.02% during trading on Thursday, reaching $52.74. The company’s stock had a trading volume of 120,153 shares. The stock has a 50 day moving average of $50.46 and a 200-day moving average of $48.86. The company has a market capitalization of $19.37 billion, a PE ratio of 21.45 and a beta of 0.93. Hartford Financial Services Group, Inc. has a 1-year low of $38.92 and a 1-year high of $53.38.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last posted its earnings results on Thursday, April 27th. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by $0.02. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.90 billion. Hartford Financial Services Group, Inc. (The) had a return on equity of 7.48% and a net margin of 5.12%. Hartford Financial Services Group, Inc. (The)’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, analysts expect that Hartford Financial Services Group, Inc. will post $4.17 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, May 30th. Hartford Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is 37.70%.

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Hedge funds have recently made changes to their positions in the company. Westside Investment Management Inc. increased its stake in shares of 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 increased its stake in shares of 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. increased its stake in shares of 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 acquired a new stake in shares of Hartford Financial Services Group, Inc. (The) during the first quarter worth about $163,000. Finally, Coconut Grove Bank increased its stake in shares of 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. 89.79% of the stock is owned by institutional investors.

Hartford Financial Services Group, Inc. (The) Company Profile

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Analyst Recommendations for Hartford Financial Services Group, Inc. (The) (NYSE:HIG)

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