Trading Report: Today: The Hartford Financial Services Group Inc. (HIG) Lowered by FBR & Co to “Mkt Perform”

Today: The Hartford Financial Services Group Inc. (HIG) Lowered by FBR & Co to “Mkt Perform”

The Hartford Financial Services Group Inc. (NYSE:HIG) was downgraded by equities researchers at FBR & Co from an “outperform” rating to a “mkt perform” rating in a note issued to investors on Monday, StockTargetPrices.com reports. They presently have a $47.00 price target on the stock. FBR & Co’s target price would indicate a potential downside of 1.82% from the company’s previous close.

Several other brokerages have also weighed in on HIG. Credit Suisse Group AG set a $51.00 price objective on The Hartford Financial Services Group and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Mizuho upped their price target on The Hartford Financial Services Group from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Atlantic Securities restated a “neutral” rating on shares of The Hartford Financial Services Group in a research note on Wednesday, August 10th. Bank of America Corp. cut The Hartford Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 16th. Finally, Keefe, Bruyette & Woods decreased their price target on The Hartford Financial Services Group from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The Hartford Financial Services Group has an average rating of “Hold” and an average price target of $47.45.

The Hartford Financial Services Group (NYSE:HIG) opened at 47.87 on Monday. The Hartford Financial Services Group has a 52 week low of $36.54 and a 52 week high of $48.17. The company’s 50-day moving average price is $44.75 and its 200 day moving average price is $43.25. The stock has a market capitalization of $18.08 billion, a P/E ratio of 13.81 and a beta of 1.24.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.11. The company earned $4.70 billion during the quarter, compared to analyst estimates of $4.68 billion. The Hartford Financial Services Group had a return on equity of 7.49% and a net margin of 7.65%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Equities research analysts expect that The Hartford Financial Services Group will post $3.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 1st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.92%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 24.28%.

In other The Hartford Financial Services Group news, SVP Scott R. Lewis sold 5,868 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $44.16, for a total value of $259,130.88. Following the sale, the senior vice president now directly owns 12,812 shares in the company, valued at $565,777.92. 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.

Several institutional investors have recently modified their holdings of HIG. Fisher Asset Management LLC raised its position in shares of The Hartford Financial Services Group by 0.3% in the third quarter. Fisher Asset Management LLC now owns 10,466 shares of the company’s stock valued at $448,000 after buying an additional 31 shares during the last quarter. BKD Wealth Advisors LLC raised its position in shares of The Hartford Financial Services Group by 0.4% in the second quarter. BKD Wealth Advisors LLC now owns 8,689 shares of the company’s stock valued at $386,000 after buying an additional 35 shares during the last quarter. Tdam USA Inc. raised its position in shares of The Hartford Financial Services Group by 1.3% in the third quarter. Tdam USA Inc. now owns 5,033 shares of the company’s stock valued at $216,000 after buying an additional 63 shares during the last quarter. Concert Wealth Management Inc. raised its position in shares of The Hartford Financial Services Group by 0.5% in the second quarter. Concert Wealth Management Inc. now owns 17,652 shares of the company’s stock valued at $778,000 after buying an additional 88 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of The Hartford Financial Services Group by 0.5% in the second quarter. Mackenzie Financial Corp now owns 19,061 shares of the company’s stock valued at $846,000 after buying an additional 100 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc is a holding company. The Company operates through six segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds and Talcott Resolution. Commercial Lines segment provides workers’ compensation, property, automobile, liability, umbrella, marine and livestock coverages to businesses, throughout the United States.

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