The Hartford Financial Services Group Inc. (NYSE:HIG) was downgraded by investment analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday. They currently have a $47.00 price target on the stock. FBR & Co’s price objective points to a potential upside of 0.17% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Bank of America Corp. lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 16th. Keefe, Bruyette & Woods cut their target price on shares of The Hartford Financial Services Group from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, August 1st. Credit Suisse Group AG set a $51.00 target price on shares of The Hartford Financial Services Group and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Barclays PLC restated an “overweight” rating and set a $47.00 target price (up from $46.00) on shares of The Hartford Financial Services Group in a research note on Saturday, October 1st. Finally, Zacks Investment Research upgraded shares of The Hartford Financial Services Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The Hartford Financial Services Group currently has an average rating of “Hold” and a consensus price target of $47.45.

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

The Hartford Financial Services Group (NYSE:HIG) opened at 46.92 on Monday. The stock has a market cap of $17.72 billion, a P/E ratio of 13.53 and a beta of 1.24. The Hartford Financial Services Group has a 52-week low of $36.54 and a 52-week high of $48.17. The firm’s 50-day moving average is $44.86 and its 200-day moving average is $43.25.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, October 27th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. The Hartford Financial Services Group had a net margin of 7.65% and a return on equity of 7.49%. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that The Hartford Financial Services Group will post $3.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.96%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 24.28%.

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In other news, SVP Scott R. Lewis sold 5,868 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $44.16, for a total transaction of $259,130.88. Following the transaction, the senior vice president now directly owns 12,812 shares in the company, valued at $565,777.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.23% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of The Hartford Financial Services Group by 15.8% in the second quarter. Nisa Investment Advisors LLC now owns 155,398 shares of the company’s stock valued at $6,897,000 after buying an additional 21,241 shares in the last quarter. Hexavest Inc. bought a new stake in shares of The Hartford Financial Services Group during the second quarter valued at $27,438,000. Marathon Asset Management LLP increased its stake in shares of The Hartford Financial Services Group by 2.0% in the second quarter. Marathon Asset Management LLP now owns 554,560 shares of the company’s stock valued at $24,714,000 after buying an additional 10,736 shares in the last quarter. Capital Analysts LLC increased its stake in shares of The Hartford Financial Services Group by 5,385.6% in the second quarter. Capital Analysts LLC now owns 54,746 shares of the company’s stock valued at $6,396,000 after buying an additional 53,748 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in shares of The Hartford Financial Services Group by 4.1% in the second quarter. Foundry Partners LLC now owns 229,984 shares of the company’s stock valued at $10,207,000 after buying an additional 9,065 shares in the last quarter. Institutional investors and hedge funds own 88.68% of the company’s stock.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc is a holding company. The Company operates through six segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds and Talcott Resolution. Commercial Lines segment provides workers’ compensation, property, automobile, liability, umbrella, marine and livestock coverages to businesses, throughout the United States.

5 Day Chart for NYSE:HIG

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