Hartford Financial Services Group (NYSE:HIG) had its price objective cut by Wells Fargo & Co from $58.00 to $56.00 in a report released on Tuesday morning. They currently have a market perform rating on the insurance provider’s stock.

A number of other brokerages have also recently commented on HIG. Zacks Investment Research raised shares of Hartford Financial Services Group from a hold rating to a buy rating and set a $59.00 target price on the stock in a report on Wednesday, August 1st. Bank of America raised shares of Hartford Financial Services Group from a neutral rating to a buy rating and set a $59.00 target price on the stock in a report on Tuesday. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on shares of Hartford Financial Services Group in a report on Tuesday, August 7th. They issued a neutral rating and a $57.00 target price on the stock. ValuEngine cut shares of Hartford Financial Services Group from a hold rating to a sell rating in a report on Thursday, August 2nd. Finally, B. Riley raised shares of Hartford Financial Services Group from a neutral rating to a buy rating and lifted their target price for the company from $55.00 to $60.00 in a report on Monday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Hartford Financial Services Group has an average rating of Hold and an average target price of $58.73.

Shares of Hartford Financial Services Group stock opened at $46.79 on Tuesday. The firm has a market capitalization of $17.91 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. 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.

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

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

In other Hartford Financial Services Group news, EVP David C. Robinson sold 2,395 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total value of $126,647.60. Following the transaction, the executive vice president now directly owns 21,398 shares of the company’s stock, valued at approximately $1,131,526.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Beth Ann Bombara sold 23,906 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 52,291 shares in the company, valued at $2,752,075.33. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in Hartford Financial Services Group by 8,566.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock valued at $106,000 after buying an additional 2,056 shares during the period. First Mercantile Trust Co. acquired a new position in Hartford Financial Services Group in the 2nd quarter valued at $133,000. Hartford Financial Management Inc. acquired a new position in Hartford Financial Services Group in the 2nd quarter valued at $143,000. BTIM Corp. acquired a new position in Hartford Financial Services Group in the 2nd quarter valued at $211,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Hartford Financial Services Group in the 2nd quarter valued at $215,000. 89.47% of the stock is currently owned by institutional investors.

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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