The Hartford Financial Services Group Inc. (HIG) Earns Buy Rating from Analysts at Credit Suisse Group AG

The Hartford Financial Services Group Inc. (HIG) Earns Buy Rating from Analysts at Credit Suisse Group AG

Credit Suisse Group AG began coverage on shares of The Hartford Financial Services Group Inc. (NYSE:HIG) in a research report report published on Friday. The brokerage issued a buy rating on the stock.

Several other research analysts have also commented on the company. Keefe, Bruyette & Woods lowered their price target on The Hartford Financial Services Group from $52.00 to $46.00 and set an outperform rating for the company in a research report on Monday, August 1st. FBR & Co restated a buy rating on shares of The Hartford Financial Services Group in a research report on Friday, July 29th. Zacks Investment Research upgraded The Hartford Financial Services Group from a strong sell rating to a hold rating in a research report on Tuesday, September 27th. Barclays PLC restated an overweight rating and set a $47.00 price target (up from $46.00) on shares of The Hartford Financial Services Group in a research report on Saturday, October 1st. Finally, MKM Partners lowered their price target on The Hartford Financial Services Group from $55.00 to $50.00 and set a buy rating for the company in a research report on Friday, July 29th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $47.83.

The Hartford Financial Services Group (NYSE:HIG) opened at 43.19 on Friday. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 13.24 and a beta of 1.35. The Hartford Financial Services Group has a 12 month low of $36.54 and a 12 month high of $49.41. The company’s 50-day moving average price is $41.95 and its 200 day moving average price is $43.34.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.80 by $0.49. The Hartford Financial Services Group had a return on equity of 7.27% and a net margin of 7.39%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts predict that The Hartford Financial Services Group will post $3.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Tuesday, August 30th. The Hartford Financial Services Group’s dividend payout ratio is presently 25.93%.

In other The Hartford Financial Services Group news, Director H Patrick Swygert sold 7,500 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $40.35, for a total value of $302,625.00. Following the sale, the director now directly owns 34,745 shares in the company, valued at $1,401,960.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.23% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of HIG. Investec Asset Management LTD acquired a new stake in The Hartford Financial Services Group during the first quarter worth $137,465,000. Credit Suisse AG boosted its stake in The Hartford Financial Services Group by 139.2% in the second quarter. Credit Suisse AG now owns 712,911 shares of the company’s stock worth $31,640,000 after buying an additional 2,533,792 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in The Hartford Financial Services Group by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 21,003,913 shares of the company’s stock worth $932,154,000 after buying an additional 970,635 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in The Hartford Financial Services Group during the second quarter worth $40,632,000. Finally, Hexavest Inc. acquired a new stake in The Hartford Financial Services Group during the second quarter worth $27,438,000. Institutional investors own 89.59% of the company’s stock.

About The Hartford Financial Services Group

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