Zacks Investment Research downgraded shares of Hartford Financial Services Group (NYSE:HIG) from a hold rating to a strong sell rating in a research report released on Tuesday morning.

According to Zacks, “Hartford Financial’s shares have underperformed the industry quarter to date.  Being a property and casualty insurer, the company is severely exposed to catastrophic losses. Moreover, softness in Personal Lines and Talcott Resolution segment remains a major headwind. The company has been witnessing a continuous decline in revenues since 2013. However, the company's strategic initiatives pave the way for long-term growth. Moreover, its investment results are impressive on the back of recent interest rate hikes. Its efficient capital management also remains a positive.”

Several other research firms have also recently weighed in on HIG. Goldman Sachs Group started coverage on Hartford Financial Services Group in a research report on Monday, December 4th. They set a neutral rating and a $59.00 price objective on the stock. UBS Group boosted their price target on Hartford Financial Services Group from $58.00 to $60.00 and gave the stock a buy rating in a research report on Tuesday, October 24th. Wells Fargo & Co set a $55.00 price target on Hartford Financial Services Group and gave the stock a hold rating in a research report on Thursday, November 16th. Keefe, Bruyette & Woods reissued a buy rating and issued a $60.00 price target on shares of Hartford Financial Services Group in a research report on Tuesday, October 3rd. Finally, Barclays boosted their price target on Hartford Financial Services Group from $61.00 to $64.00 and gave the stock an overweight rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $58.92.

Shares of Hartford Financial Services Group (HIG) opened at $55.97 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $19,815.72, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 1.64 and a beta of 0.98. Hartford Financial Services Group has a 12-month low of $46.35 and a 12-month high of $58.61.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 23rd. The insurance provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. equities research analysts anticipate that Hartford Financial Services Group will post 3.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Hartford Financial Services Group’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.79%. Hartford Financial Services Group’s dividend payout ratio is 76.34%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. lifted its position in Hartford Financial Services Group by 1.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,111 shares of the insurance provider’s stock valued at $216,000 after acquiring an additional 48 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in Hartford Financial Services Group by 0.5% in the 2nd quarter. First Allied Advisory Services Inc. now owns 12,501 shares of the insurance provider’s stock valued at $659,000 after acquiring an additional 58 shares in the last quarter. Scotia Capital Inc. lifted its position in Hartford Financial Services Group by 0.3% in the 2nd quarter. Scotia Capital Inc. now owns 33,319 shares of the insurance provider’s stock valued at $1,751,000 after acquiring an additional 102 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Hartford Financial Services Group by 3.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,166 shares of the insurance provider’s stock valued at $219,000 after acquiring an additional 127 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Hartford Financial Services Group by 0.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 58,257 shares of the insurance provider’s stock valued at $3,065,000 after acquiring an additional 149 shares in the last quarter. 88.52% of the stock is currently owned by institutional investors and hedge funds.

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Hartford Financial Services Group Company Profile

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

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