Hartford Financial Services Group (NYSE:HIG) Rating Reiterated by Credit Suisse Group

Hartford Financial Services Group (NYSE:HIG)‘s stock had its “hold” rating reaffirmed by analysts at Credit Suisse Group in a research note issued to investors on Friday, AnalystRatings.com reports. They currently have a $44.00 target price on the insurance provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 3.97% from the company’s previous close.

A number of other brokerages have also issued reports on HIG. MKM Partners dropped their price target on shares of Hartford Financial Services Group from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Deutsche Bank dropped their price target on shares of Hartford Financial Services Group from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Royal Bank of Canada dropped their price target on shares of Hartford Financial Services Group from $66.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 8th. Piper Sandler dropped their price target on shares of Hartford Financial Services Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Finally, Bank of America began coverage on shares of Hartford Financial Services Group in a research report on Monday, June 1st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $54.57.

HIG stock traded up $1.82 during midday trading on Friday, hitting $42.32. The company’s stock had a trading volume of 4,124,624 shares, compared to its average volume of 1,822,625. The firm has a market capitalization of $15.15 billion, a P/E ratio of 8.55, a PEG ratio of 1.24 and a beta of 0.97. The firm has a 50-day simple moving average of $39.49 and a 200-day simple moving average of $43.84. Hartford Financial Services Group has a 52-week low of $19.04 and a 52-week high of $62.75. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.29.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $1.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.22. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Hartford Financial Services Group had a net margin of 8.80% and a return on equity of 12.86%. On average, sell-side analysts expect that Hartford Financial Services Group will post 4.88 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Financial Inc. bought a new position in shares of Hartford Financial Services Group in the second quarter valued at approximately $35,000. Westside Investment Management Inc. bought a new position in shares of Hartford Financial Services Group in the first quarter valued at approximately $41,000. CENTRAL TRUST Co raised its position in shares of Hartford Financial Services Group by 58.3% in the second quarter. CENTRAL TRUST Co now owns 1,630 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 600 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Hartford Financial Services Group by 27.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,654 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 357 shares during the period. Finally, Procyon Private Wealth Partners LLC increased its position in Hartford Financial Services Group by 86.5% during the first quarter. Procyon Private Wealth Partners LLC now owns 2,089 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 969 shares during the period. Institutional investors own 89.80% of the company’s stock.

Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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

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