The Hartford Financial Services Group Inc. (NYSE:HIG) was downgraded by investment analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report issued on Wednesday.

HIG has been the topic of a number of other research reports. Atlantic Securities reaffirmed a “neutral” rating on shares of The Hartford Financial Services Group in a research report on Wednesday, August 10th. FBR & Co dropped their price target on The Hartford Financial Services Group from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. Mizuho upped their price target on The Hartford Financial Services Group from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Barclays PLC dropped their price target on The Hartford Financial Services Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th. Finally, MKM Partners dropped their price objective on The Hartford Financial Services Group from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The Hartford Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $47.45.

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

The Hartford Financial Services Group (NYSE:HIG) opened at 46.97 on Wednesday. The Hartford Financial Services Group has a 52-week low of $36.54 and a 52-week high of $48.03. The company has a market cap of $17.74 billion, a PE ratio of 13.55 and a beta of 1.24. The firm has a 50-day moving average price of $43.99 and a 200-day moving average price of $43.11.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. The firm earned $4.70 billion during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts forecast that The Hartford Financial Services Group will post $3.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 1.96%. The Hartford Financial Services Group’s dividend payout ratio is 24.28%.

In other news, SVP Scott R. Lewis sold 5,868 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $44.16, for a total transaction of $259,130.88. Following the transaction, the senior vice president now directly owns 12,812 shares in the company, valued at approximately $565,777.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director H Patrick Swygert sold 7,500 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $40.35, for a total value of $302,625.00. Following the transaction, the director now owns 34,745 shares in the company, valued at $1,401,960.75. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Capital Analysts LLC raised its position in shares of The Hartford Financial Services Group by 5,385.6% in the second quarter. Capital Analysts LLC now owns 54,746 shares of the company’s stock valued at $6,396,000 after buying an additional 53,748 shares during the period. Foundry Partners LLC raised its position in The Hartford Financial Services Group by 4.1% in the second quarter. Foundry Partners LLC now owns 229,984 shares of the company’s stock valued at $10,207,000 after buying an additional 9,065 shares during the last quarter. Benin Management CORP raised its position in The Hartford Financial Services Group by 2.6% in the second quarter. Benin Management CORP now owns 214,551 shares of the company’s stock valued at $9,522,000 after buying an additional 5,500 shares during the last quarter. Creative Planning raised its position in The Hartford Financial Services Group by 16.6% in the second quarter. Creative Planning now owns 34,974 shares of the company’s stock valued at $1,552,000 after buying an additional 4,979 shares during the last quarter. Finally, BKD Wealth Advisors LLC raised its position in 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. Hedge funds and other institutional investors own 91.80% of the company’s stock.

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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