FBR & Co cut shares of The Hartford Financial Services Group Inc. (NYSE:HIG) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning. FBR & Co currently has $47.00 target price on the stock.

HIG has been the topic of several other research reports. Bank of America Corp. lowered shares of The Hartford Financial Services Group from a buy rating to a neutral rating in a research report on Wednesday, November 16th. Keefe, Bruyette & Woods lowered their price target on shares of The Hartford Financial Services Group from $52.00 to $46.00 and set an outperform rating on the stock in a research report on Monday, August 1st. Credit Suisse Group AG set a $51.00 price target on shares of The Hartford Financial Services Group and gave the company a buy rating in a research report on Tuesday, August 23rd. Barclays PLC reissued an overweight rating and issued a $47.00 price target (up previously from $46.00) on shares of The Hartford Financial Services Group in a research report on Saturday, October 1st. Finally, Zacks Investment Research raised shares of The Hartford Financial Services Group from a strong sell rating to a hold rating in a research report on Tuesday, September 27th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The Hartford Financial Services Group currently has a consensus rating of Hold and an average price target of $47.45.

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

Shares of The Hartford Financial Services Group (NYSE:HIG) opened at 47.12 on Monday. The firm has a 50-day moving average of $44.95 and a 200-day moving average of $43.27. The Hartford Financial Services Group has a 12 month low of $36.54 and a 12 month high of $48.17. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 13.59 and a beta of 1.24.

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

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The business 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.95%. 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. The Hartford Financial Services Group’s payout ratio is currently 26.59%.

In other The Hartford Financial Services Group news, SVP Scott R. Lewis sold 5,868 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $44.16, for a total value of $259,130.88. Following the completion of the transaction, the senior vice president now owns 12,812 shares of the company’s stock, valued at approximately $565,777.92. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.23% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its position in The Hartford Financial Services Group by 259.6% in the second quarter. Johnson Financial Group Inc. now owns 2,528 shares of the company’s stock worth $112,000 after buying an additional 1,825 shares in the last quarter. Euclid Advisors LLC bought a new position in The Hartford Financial Services Group during the second quarter worth approximately $120,000. Global X Management Co. LLC boosted its position in The Hartford Financial Services Group by 126.1% in the second quarter. Global X Management Co. LLC now owns 2,761 shares of the company’s stock worth $123,000 after buying an additional 1,540 shares in the last quarter. FineMark National Bank & Trust boosted its position in The Hartford Financial Services Group by 29.8% in the third quarter. FineMark National Bank & Trust now owns 2,827 shares of the company’s stock worth $122,000 after buying an additional 649 shares in the last quarter. Finally, MUFG Americas Holdings Corp boosted its position in The Hartford Financial Services Group by 14.4% in the second quarter. MUFG Americas Holdings Corp now owns 2,869 shares of the company’s stock worth $127,000 after buying an additional 362 shares in the last quarter. 88.68% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:HIG

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