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.

Several other research firms also recently commented on HIG. Wells Fargo & Company decreased their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. BMO Capital Markets boosted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler upped their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price objective 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Trading Up 1.7 %

Shares of The Hartford Financial Services Group stock opened at $117.58 on Tuesday. The stock has a market capitalization of $33.56 billion, a PE 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 52 week low of $94.32 and a 52 week high of $124.90. The stock has a 50 day moving average price of $111.54 and a two-hundred day moving average price of $114.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, equities analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of hedge funds have recently modified their holdings of HIG. Norges Bank purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth $416,340,000. AustralianSuper Pty Ltd grew its stake in shares of The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after acquiring an additional 881,224 shares during the period. Ameriprise Financial Inc. increased its holdings in The Hartford Financial Services Group by 48.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock worth $247,761,000 after acquiring an additional 735,170 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after acquiring an additional 709,324 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock valued at $632,000 after purchasing an additional 626,304 shares during the last quarter. Institutional investors 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.