StockNews.com Downgrades The Hartford Financial Services Group (NYSE:HIG) to Hold

The Hartford Financial Services Group (NYSE:HIG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. BMO Capital Markets boosted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Piper Sandler increased their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Trading Up 2.4 %

Shares of NYSE HIG traded up $2.71 during trading hours on Tuesday, hitting $116.53. 2,113,226 shares of the company traded hands, compared to its average volume of 1,690,951. The company’s 50 day moving average price is $111.16 and its 200 day moving average price is $114.32. The Hartford Financial Services Group has a 12 month low of $94.32 and a 12 month high of $124.90. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. On average, equities research analysts anticipate that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HIG. Thurston Springer Miller Herd & Titak Inc. boosted its position in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. lifted its position in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares during the last quarter. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at about $33,000. BNP Paribas purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth approximately $35,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $35,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.