Hartford Financial Services Group (NYSE:HIG) was downgraded by analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat reports. They currently have a $63.00 target price on the insurance provider’s stock. Buckingham Research’s price target suggests a potential upside of 7.25% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research firms also recently commented on HIG. MKM Partners upped their target price on Hartford Financial Services Group to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. ValuEngine downgraded Hartford Financial Services Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Evercore ISI raised Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $58.00 target price on shares of Hartford Financial Services Group in a research report on Monday, November 4th. Finally, Citigroup began coverage on Hartford Financial Services Group in a research report on Tuesday. They issued a “neutral” rating and a $67.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $65.36.

NYSE HIG traded down $0.16 during trading on Wednesday, reaching $58.74. 69,174 shares of the company’s stock were exchanged, compared to its average volume of 1,583,143. The business has a 50 day moving average price of $60.56 and a 200-day moving average price of $59.46. The stock has a market capitalization of $21.59 billion, a P/E ratio of 12.53, a PEG ratio of 1.15 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.29 and a quick ratio of 0.29. Hartford Financial Services Group has a fifty-two week low of $45.91 and a fifty-two week high of $62.75.

Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a return on equity of 12.69% and a net margin of 8.66%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts forecast that Hartford Financial Services Group will post 5.55 earnings per share for the current year.

In related news, CEO Christopher Swift sold 30,979 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $61.80, for a total value of $1,914,502.20. Also, CFO Beth Ann Costello sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $57.70, for a total value of $288,500.00. Following the completion of the sale, the chief financial officer now owns 46,245 shares of the company’s stock, valued at $2,668,336.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,262 shares of company stock valued at $3,865,103. 1.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of HIG. Prime Capital Investment Advisors LLC bought a new stake in shares of Hartford Financial Services Group in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC bought a new stake in shares of Hartford Financial Services Group in the third quarter valued at approximately $28,000. KCS Wealth Advisory bought a new stake in shares of Hartford Financial Services Group in the third quarter valued at approximately $32,000. Evoke Wealth LLC bought a new stake in shares of Hartford Financial Services Group in the third quarter valued at approximately $32,000. Finally, Thor Advisors LLC bought a new stake in Hartford Financial Services Group during the third quarter worth $34,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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

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