Brokerages Set Hartford Financial Services Group Inc (HIG) PT at $59.10

Shares of Hartford Financial Services Group Inc (NYSE:HIG) have been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $59.00.

Several research analysts have issued reports on HIG shares. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Monday, July 2nd. TheStreet raised shares of Hartford Financial Services Group from a “c” rating to a “b” rating in a research report on Thursday, July 26th. ValuEngine downgraded shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Credit Suisse Group started coverage on shares of Hartford Financial Services Group in a research report on Tuesday, August 7th. They set a “neutral” rating and a $57.00 price objective on the stock. Finally, B. Riley raised their price objective on shares of Hartford Financial Services Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th.

In other news, EVP David C. Robinson sold 2,395 shares of Hartford Financial Services Group stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total value of $126,647.60. Following the sale, the executive vice president now owns 21,398 shares of the company’s stock, valued at $1,131,526.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Beth Ann Bombara sold 23,906 shares of Hartford Financial Services Group stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total transaction of $1,258,172.78. Following the completion of the sale, the chief financial officer now directly owns 52,291 shares in the company, valued at approximately $2,752,075.33. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. United Capital Financial Advisers LLC acquired a new stake in shares of Hartford Financial Services Group in the first quarter valued at about $224,000. Private Capital Group LLC lifted its stake in shares of Hartford Financial Services Group by 1,795.2% in the first quarter. Private Capital Group LLC now owns 9,552 shares of the insurance provider’s stock valued at $495,000 after purchasing an additional 9,048 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hartford Financial Services Group in the first quarter valued at about $1,505,000. DnB Asset Management AS acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at about $2,294,000. Finally, IFM Investors Pty Ltd lifted its stake in shares of Hartford Financial Services Group by 42.7% in the second quarter. IFM Investors Pty Ltd now owns 16,397 shares of the insurance provider’s stock valued at $838,000 after purchasing an additional 4,906 shares during the period. 89.47% of the stock is currently owned by institutional investors and hedge funds.

Hartford Financial Services Group stock traded down $0.03 during midday trading on Wednesday, hitting $46.79. 3,699,974 shares of the company’s stock were exchanged, compared to its average volume of 2,253,411. Hartford Financial Services Group has a 12-month low of $45.96 and a 12-month high of $59.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $17.91 billion, a P/E ratio of 17.08, a PEG ratio of 1.11 and a beta of 0.93.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.11. Hartford Financial Services Group had a negative net margin of 12.24% and a positive return on equity of 9.84%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period last year, the firm posted $0.81 EPS. Hartford Financial Services Group’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities analysts expect that Hartford Financial Services Group will post 4.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were issued a $0.30 dividend. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. Hartford Financial Services Group’s payout ratio is presently 43.80%.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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

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