The Hartford Financial Services Group (NYSE:HIG) Downgraded by StockNews.com to Hold

StockNews.com cut shares of The Hartford Financial Services Group (NYSE:HIG) from a buy rating to a hold rating in a research report released on Tuesday morning.

Several other analysts have also recently commented on HIG. Wells Fargo & Company lowered their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets lifted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Piper Sandler lifted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Trading Up 2.4 %

Shares of The Hartford Financial Services Group stock opened at $116.53 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a 1 year low of $94.32 and a 1 year high of $124.90. The company has a market capitalization of $33.78 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.12 and a beta of 0.97. The business has a 50 day moving average price of $111.16 and a 200 day moving average price of $114.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Sell-side analysts anticipate that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Catalyst Financial Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 90 shares in the last quarter. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares in the last quarter. Brooklyn Investment Group lifted its holdings in The Hartford Financial Services Group by 4.0% in the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after buying an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in The Hartford Financial Services Group by 2.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after buying an additional 97 shares in the last quarter. Finally, Lifestyle Asset Management Inc. lifted its holdings in The Hartford Financial Services Group by 0.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.