The Hartford Financial Services Group (NYSE:HIG) Rating Lowered to Neutral at Citigroup

Citigroup lowered shares of The Hartford Financial Services Group (NYSE:HIG) from a buy rating to a neutral rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $114.00 target price on the insurance provider’s stock, down from their prior target price of $116.00.

Several other analysts also recently weighed in on HIG. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Argus boosted their target price on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. Raymond James reissued an outperform rating and issued a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, Morgan Stanley reduced their target price on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $106.71.

The Hartford Financial Services Group Trading Down 0.6 %

Shares of HIG stock opened at $99.89 on Friday. The Hartford Financial Services Group has a 12 month low of $68.82 and a 12 month high of $105.20. The company has a market cap of $29.54 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $100.65 and its two-hundred day moving average is $94.63.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. Equities analysts predict that The Hartford Financial Services Group will post 9.91 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in The Hartford Financial Services Group during the 4th quarter worth $278,704,000. Hotchkis & Wiley Capital Management LLC increased its holdings in The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in The Hartford Financial Services Group by 72.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock valued at $137,633,000 after buying an additional 559,019 shares during the period. Swedbank AB bought a new position in The Hartford Financial Services Group during the first quarter worth about $53,980,000. Finally, Nordea Investment Management AB grew its position in shares of The Hartford Financial Services Group by 20.2% during the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after buying an additional 497,916 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

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.