Zacks Investment Research downgraded shares of Hartford Financial Services Group, Inc. (The) (NYSE:HIG) from a buy rating to a hold rating in a research report report published on Monday morning.

According to Zacks, “Year to date,  shares of Hartford Financial have outperformed the industry. The company is well poised for long-term growth, given its strong foothold in the property and casualty market. The recent interest rate hikes have significantly favored the company’s investment results, boosting its top line in turn. Moreover, the company has taken up several action plans to improve its risk profile which are likely to drive the company's underwriting results going forward. Efficient capital management also helps it in enhancing shareholders' value through several capital deployment activities. The company has seen the Zacks Consensus Estimates for 2017 and 2018 earnings being revised upward in last 60 days. However, the company's severe exposure to catastrophic events continues to affect its bottom line. Weak Personal Lines and Talcott Resolution businesses also remain major headwinds.”

Other analysts have also issued research reports about the company. UBS AG restated a buy rating and set a $58.00 price target (up previously from $54.00) on shares of Hartford Financial Services Group, Inc. (The) in a report on Monday, June 26th. BidaskClub upgraded Hartford Financial Services Group, Inc. (The) from a hold rating to a buy rating in a report on Saturday, August 12th. Buckingham Research assumed coverage on Hartford Financial Services Group, Inc. (The) in a report on Monday, September 11th. They set a buy rating and a $63.00 price target on the stock. Keefe, Bruyette & Woods restated a buy rating and set a $58.00 price target on shares of Hartford Financial Services Group, Inc. (The) in a report on Sunday, July 30th. Finally, FBR & Co increased their price target on Hartford Financial Services Group, Inc. (The) from $49.00 to $54.00 and gave the company a mkt perform rating in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Hartford Financial Services Group, Inc. (The) presently has a consensus rating of Buy and a consensus price target of $56.91.

Hartford Financial Services Group, Inc. (NYSE HIG) opened at 53.83 on Monday. Hartford Financial Services Group, Inc. has a one year low of $41.92 and a one year high of $57.16. The company has a market cap of $19.61 billion, a PE ratio of 29.54 and a beta of 0.92. The stock has a 50 day moving average of $54.83 and a 200 day moving average of $51.25.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.10. Hartford Financial Services Group, Inc. (The) had a return on equity of 9.13% and a net margin of 3.73%. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. Hartford Financial Services Group, Inc. (The)’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Hartford Financial Services Group, Inc. will post $4.23 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, August 30th. Hartford Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 51.40%.

A number of institutional investors have recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. grew its position in Hartford Financial Services Group, Inc. (The) 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 during the last quarter. First Allied Advisory Services Inc. grew its position in Hartford Financial Services Group, Inc. (The) 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 during the last quarter. Jaffetilchin Investment Partners LLC grew its position in Hartford Financial Services Group, Inc. (The) by 1.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 8,147 shares of the insurance provider’s stock valued at $392,000 after acquiring an additional 97 shares during the last quarter. Scotia Capital Inc. grew its position in Hartford Financial Services Group, Inc. (The) 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Hartford Financial Services Group, Inc. (The) 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 during the last quarter. 88.23% of the stock is currently owned by institutional investors.

About Hartford Financial Services Group, Inc. (The)

Analyst Recommendations for Hartford Financial Services Group, Inc. (The) (NYSE:HIG)

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