The Hartford Financial Services Group (NYSE:HIG) Stock Rating Lowered by Citigroup

The Hartford Financial Services Group (NYSE:HIG) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $114.00 target price on the insurance provider’s stock, down from their previous target price of $116.00. Citigroup’s target price indicates a potential upside of 13.39% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Raymond James reiterated an “outperform” rating and set a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Morgan Stanley lowered their target price on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. TD Cowen raised their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Roth Mkm raised their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, Argus raised their target price on The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.71.

The Hartford Financial Services Group Stock Down 2.2 %

Shares of The Hartford Financial Services Group stock opened at $100.54 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $100.65 and its 200-day simple moving average is $94.53. The stock has a market capitalization of $29.74 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.85 and a beta of 0.93. The Hartford Financial Services Group has a twelve month low of $68.82 and a twelve month high of $105.20.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. Equities research analysts forecast that The Hartford Financial Services Group will post 9.91 earnings per share for the current year.

Insider Transactions at The Hartford Financial Services Group

In other news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of The Hartford Financial Services Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise boosted its position in shares of The Hartford Financial Services Group by 378.8% in the first quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock worth $1,724,000 after buying an additional 13,232 shares during the period. McGlone Suttner Wealth Management Inc. raised its holdings in shares of The Hartford Financial Services Group by 11.7% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 331 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $2,875,000. Stifel Financial Corp raised its holdings in shares of The Hartford Financial Services Group by 14.2% during the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after acquiring an additional 32,534 shares in the last quarter. Finally, New Millennium Group LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $1,552,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

About The Hartford Financial Services Group

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.