Zacks Investment Research Lowers Hartford Financial Services Group, Inc. (The) (NYSE:HIG) to Sell

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, October 17th.

According to Zacks, “Being a property and casualty insurer, Hartford Financial is severely exposed to catastrophic losses that have been impacting the margins negatively over past many years. Moreover, the company’s Personal Lines business that has remained a drag, continues to affect the top and bottom line adversely. This apart, continued softness in the company’s Talcott Resolution segment has remained a major headwind. The company has seen its Zacks Consensus Estimate for 2017 and 2018 earnings being revised downward in the past 30 days. Although the shares have outperformed the industry in a year’s time, the company’s headwinds are likely to keep the stock price under pressure.The company will release third quarter results on Oct 26, 2017 after the market closes.”

Several other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $60.00 price target on shares of Hartford Financial Services Group, Inc. (The) in a research note on Thursday, August 31st. Buckingham Research initiated coverage on shares of Hartford Financial Services Group, Inc. (The) in a research note on Monday, September 11th. They issued a “buy” rating and a $63.00 price target for the company. Royal Bank Of Canada reissued a “buy” rating and set a $54.00 target price on shares of Hartford Financial Services Group, Inc. (The) in a research report on Wednesday, July 12th. Barclays PLC boosted their target price on shares of Hartford Financial Services Group, Inc. (The) from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. Finally, BidaskClub cut shares of Hartford Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.42.

Shares of Hartford Financial Services Group, Inc. (HIG) traded up $0.04 during trading on Tuesday, reaching $55.88. 677,744 shares of the company’s stock were exchanged, compared to its average volume of 1,898,638. Hartford Financial Services Group, Inc. has a 1 year low of $43.18 and a 1 year high of $57.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $19,919.17, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.60 and a beta of 0.98.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last issued its quarterly earnings results on Monday, October 23rd. The insurance provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Hartford Financial Services Group, Inc. (The) had a net margin of 2.63% and a return on equity of 8.21%. The company had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. Hartford Financial Services Group, Inc. (The)’s revenue was down .7% compared to the same quarter last year. research analysts expect that Hartford Financial Services Group, Inc. will post 3.68 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in HIG. OppenheimerFunds Inc. boosted its position in Hartford Financial Services Group, Inc. (The) by 8.3% during the 1st quarter. OppenheimerFunds Inc. now owns 54,576 shares of the insurance provider’s stock valued at $2,623,000 after buying an additional 4,200 shares during the period. Global X Management Co. LLC lifted its position in shares of Hartford Financial Services Group, Inc. (The) by 30.0% in the 1st quarter. Global X Management Co. LLC now owns 6,294 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 1,454 shares during the period. Schneider Capital Management Corp lifted its position in shares of Hartford Financial Services Group, Inc. (The) by 87.0% in the 1st quarter. Schneider Capital Management Corp now owns 10,745 shares of the insurance provider’s stock worth $517,000 after purchasing an additional 5,000 shares during the period. Menta Capital LLC purchased a new stake in shares of Hartford Financial Services Group, Inc. (The) in the 1st quarter worth about $1,142,000. Finally, Aviance Capital Partners LLC lifted its position in shares of Hartford Financial Services Group, Inc. (The) by 6.9% in the 1st quarter. Aviance Capital Partners LLC now owns 6,950 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 450 shares during the period. 90.20% of the stock is owned by institutional investors and hedge funds.

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

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