The Hartford Financial Services Group (NYSE:HIG) Cut to Hold at StockNews.com

StockNews.com downgraded shares of The Hartford Financial Services Group (NYSE:HIG) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

HIG has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. BMO Capital Markets upped their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Trading Up 1.7 %

Shares of HIG stock opened at $117.58 on Tuesday. The stock has a market cap of $33.56 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group has a 1 year low of $94.32 and a 1 year high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $111.54 and a 200 day simple moving average of $114.35.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. On average, research analysts predict that The Hartford Financial Services Group will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. BNP Paribas bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $35,000. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $33,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.