Credit Suisse Group set a $56.00 target price on Hartford Financial Services Group (NYSE:HIG) in a research report sent to investors on Tuesday morning. The firm currently has a hold rating on the insurance provider’s stock.
A number of other equities analysts have also recently commented on the company. Wells Fargo & Co dropped their target price on Hartford Financial Services Group from $58.00 to $56.00 and set a market perform rating for the company in a report on Tuesday. Bank of America upgraded Hartford Financial Services Group from a neutral rating to a buy rating and set a $59.00 target price for the company in a report on Tuesday. They noted that the move was a valuation call. B. Riley upgraded Hartford Financial Services Group from a neutral rating to a buy rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Monday, September 24th. Sandler O’Neill assumed coverage on Hartford Financial Services Group in a report on Monday, September 10th. They issued a buy rating and a $60.00 target price for the company. Finally, Zacks Investment Research cut Hartford Financial Services Group from a buy rating to a hold rating in a report on Wednesday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Hartford Financial Services Group has an average rating of Hold and a consensus target price of $58.73.
Shares of Hartford Financial Services Group stock opened at $46.79 on Tuesday. The company has a market capitalization of $17.91 billion, a PE ratio of 17.08, a P/E/G ratio of 1.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.29 and a quick ratio of 0.29. Hartford Financial Services Group has a one year low of $45.96 and a one year high of $59.20.
Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 26th. The insurance provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Hartford Financial Services Group had a positive return on equity of 9.84% and a negative net margin of 12.24%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. As a group, research analysts forecast that Hartford Financial Services Group will post 4.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Tuesday, September 4th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. This is a boost from Hartford Financial Services Group’s previous quarterly dividend of $0.25. Hartford Financial Services Group’s payout ratio is presently 43.80%.
In related news, CFO Beth Ann Bombara sold 23,906 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $52.63, for a total transaction of $1,258,172.78. Following the completion of the transaction, the chief financial officer now owns 52,291 shares in the company, valued at approximately $2,752,075.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David C. Robinson sold 2,395 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total value of $126,647.60. Following the transaction, the executive vice president now owns 21,398 shares of the company’s stock, valued at approximately $1,131,526.24. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of HIG. California Public Employees Retirement System raised its position in Hartford Financial Services Group by 14.2% during the 2nd quarter. California Public Employees Retirement System now owns 1,330,087 shares of the insurance provider’s stock valued at $68,007,000 after purchasing an additional 164,973 shares in the last quarter. Unigestion Holding SA bought a new stake in Hartford Financial Services Group during the 2nd quarter valued at $20,503,000. PGGM Investments raised its position in Hartford Financial Services Group by 7.8% during the 2nd quarter. PGGM Investments now owns 1,195,414 shares of the insurance provider’s stock valued at $61,122,000 after purchasing an additional 86,414 shares in the last quarter. Captrust Financial Advisors raised its position in Hartford Financial Services Group by 7.5% during the 2nd quarter. Captrust Financial Advisors now owns 23,067 shares of the insurance provider’s stock valued at $1,185,000 after purchasing an additional 1,612 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Hartford Financial Services Group by 254.8% during the 2nd quarter. First Trust Advisors LP now owns 409,931 shares of the insurance provider’s stock valued at $20,960,000 after purchasing an additional 294,381 shares in the last quarter. Institutional investors own 89.47% 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. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.
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