Hartford Financial Services Group (NYSE:HIG) Downgraded by ValuEngine to “Sell”

Hartford Financial Services Group (NYSE:HIG) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other analysts have also commented on HIG. Buckingham Research boosted their price objective on Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays set a $70.00 price objective on Hartford Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 12th. Zacks Investment Research lowered Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Morgan Stanley boosted their price objective on Hartford Financial Services Group from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, B. Riley boosted their price objective on Hartford Financial Services Group from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $62.08.

HIG traded up $0.79 during midday trading on Tuesday, reaching $59.83. 53,293 shares of the company were exchanged, compared to its average volume of 2,060,425. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.28 and a current ratio of 0.28. The company’s fifty day moving average price is $58.43 and its 200 day moving average price is $54.00. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.64. Hartford Financial Services Group has a one year low of $40.54 and a one year high of $60.77.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.07 billion. Hartford Financial Services Group had a return on equity of 12.44% and a net margin of 8.36%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. As a group, sell-side analysts anticipate that Hartford Financial Services Group will post 5.24 earnings per share for the current fiscal year.

In other news, CFO Beth Ann Costello sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.19, for a total value of $285,950.00. Following the completion of the transaction, the chief financial officer now directly owns 51,245 shares of the company’s stock, valued at $2,930,701.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David C. Robinson sold 6,978 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $60.04, for a total value of $418,959.12. Following the completion of the transaction, the executive vice president now owns 22,040 shares in the company, valued at approximately $1,323,281.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,109 shares of company stock valued at $6,084,135. 1.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC purchased a new position in Hartford Financial Services Group in the second quarter valued at approximately $26,000. NuWave Investment Management LLC lifted its stake in Hartford Financial Services Group by 950.0% in the second quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 456 shares during the last quarter. Rational Advisors LLC lifted its stake in Hartford Financial Services Group by 950.0% in the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 456 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in Hartford Financial Services Group in the first quarter valued at approximately $33,000. Finally, Harvest Group Wealth Management LLC purchased a new position in Hartford Financial Services Group in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.60% 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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