Hartford Financial Services Group (NYSE:HIG) Receives New Coverage from Analysts at Citigroup

Citigroup initiated coverage on shares of Hartford Financial Services Group (NYSE:HIG) in a report issued on Tuesday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $67.00 target price on the insurance provider’s stock.

Several other brokerages have also recently commented on HIG. MKM Partners raised their price objective on shares of Hartford Financial Services Group to $70.00 and gave the company a buy rating in a research note on Tuesday, November 5th. Zacks Investment Research upgraded shares of Hartford Financial Services Group from a hold rating to a buy rating and set a $64.00 price objective for the company in a research note on Monday, January 6th. ValuEngine cut shares of Hartford Financial Services Group from a sell rating to a strong sell rating in a research note on Tuesday, December 3rd. Wells Fargo & Co reiterated a hold rating and issued a $58.00 price objective on shares of Hartford Financial Services Group in a research note on Monday, November 4th. Finally, Evercore ISI upgraded shares of Hartford Financial Services Group from an in-line rating to an outperform rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $65.36.

Shares of NYSE:HIG opened at $60.49 on Tuesday. The stock has a market cap of $22.06 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.18 and a beta of 0.63. The firm has a fifty day moving average price of $60.61 and a 200 day moving average price of $59.44. 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 1-year low of $45.85 and a 1-year high of $62.75.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts expect that Hartford Financial Services Group will post 5.55 EPS for the current fiscal year.

In other Hartford Financial Services Group news, CFO Beth Ann Costello sold 5,000 shares of Hartford Financial Services Group stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $57.70, for a total transaction of $288,500.00. Following the transaction, the chief financial officer now directly owns 46,245 shares of the company’s stock, valued at $2,668,336.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan R. Bennett sold 22,427 shares of Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $61.80, for a total transaction of $1,385,988.60. Insiders sold 63,262 shares of company stock worth $3,865,103 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP lifted its position in shares of Hartford Financial Services Group by 14.3% during the third quarter. First Trust Advisors LP now owns 1,199,437 shares of the insurance provider’s stock worth $72,698,000 after purchasing an additional 150,178 shares in the last quarter. Boston Advisors LLC lifted its position in shares of Hartford Financial Services Group by 1.9% during the third quarter. Boston Advisors LLC now owns 10,865 shares of the insurance provider’s stock worth $659,000 after purchasing an additional 205 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Hartford Financial Services Group by 5.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,495,240 shares of the insurance provider’s stock worth $211,846,000 after purchasing an additional 183,437 shares in the last quarter. CSat Investment Advisory L.P. lifted its position in shares of Hartford Financial Services Group by 135.9% during the second quarter. CSat Investment Advisory L.P. now owns 821 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 473 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Hartford Financial Services Group by 7.2% during the third quarter. Public Employees Retirement System of Ohio now owns 214,532 shares of the insurance provider’s stock worth $13,003,000 after purchasing an additional 14,387 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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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