Hartford Financial Services Group (NYSE:HIG) Downgraded by ValuEngine to Strong Sell

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ValuEngine lowered shares of Hartford Financial Services Group (NYSE:HIG) from a sell rating to a strong sell rating in a report issued on Tuesday, ValuEngine reports.

Several other analysts have also issued reports on the stock. Barclays set a $70.00 price target on shares of Hartford Financial Services Group and gave the stock a buy rating in a research report on Monday, August 12th. MKM Partners boosted their price objective on shares of Hartford Financial Services Group to $70.00 and gave the company a buy rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on Hartford Financial Services Group from $58.00 to $61.00 and gave the stock an equal weight rating in a research note on Thursday, August 15th. Zacks Investment Research upgraded Hartford Financial Services Group from a hold rating to a buy rating and set a $64.00 target price for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Co reaffirmed a hold rating and issued a $58.00 target price on shares of Hartford Financial Services Group in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $63.75.

Shares of Hartford Financial Services Group stock opened at $60.30 on Tuesday. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.18 and a beta of 0.64. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.28. Hartford Financial Services Group has a 12-month low of $40.54 and a 12-month high of $62.75. The firm’s 50-day moving average price is $59.97 and its two-hundred day moving average price is $57.92.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.24 by $0.26. The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.22 billion. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. On average, sell-side analysts expect that Hartford Financial Services Group will post 5.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, November 29th. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 27.71%.

In other news, CFO Beth Ann Costello sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $57.70, for a total transaction of $288,500.00. Following the completion of the transaction, the chief financial officer now directly owns 46,245 shares in the company, valued at $2,668,336.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brion S. Johnson sold 3,316 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $60.06, for a total value of $199,158.96. Following the completion of the transaction, the executive vice president now owns 36,863 shares of the company’s stock, valued at $2,213,991.78. The disclosure for this sale can be found here. Insiders have sold a total of 112,071 shares of company stock worth $6,807,896 over the last ninety days. 1.70% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of HIG. Prime Capital Investment Advisors LLC acquired a new stake in shares of Hartford Financial Services Group during the third quarter valued at about $25,000. Virtus ETF Advisers LLC bought a new stake in shares of Hartford Financial Services Group during the second quarter worth about $26,000. Rational Advisors LLC grew its holdings in shares of Hartford Financial Services Group by 950.0% during the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 456 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Hartford Financial Services Group in the third quarter valued at approximately $28,000. Finally, KCS Wealth Advisory acquired a new position in shares of Hartford Financial Services Group in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 90.27% of the company’s stock.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Hartford Financial Services Group (NYSE:HIG)

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