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

HIG has been the topic of several other research reports. Zacks Investment Research raised The Hartford Financial Services Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 27th. Atlantic Securities cut The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $45.00 in a report on Wednesday, August 10th. Barclays PLC reissued an “overweight” rating and set a $47.00 price objective (up from $46.00) on shares of The Hartford Financial Services Group in a report on Saturday, October 1st. Keefe, Bruyette & Woods decreased their price objective on The Hartford Financial Services Group from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, August 1st. Finally, Bank of America Corp. cut The Hartford Financial Services Group from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average 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 47.87 on Monday. The company has a market capitalization of $18.08 billion, a PE ratio of 13.81 and a beta of 1.24. The firm’s 50 day moving average price is $44.75 and its 200-day moving average price is $43.25. The Hartford Financial Services Group has a 12-month low of $36.54 and a 12-month high of $48.17.

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

The firm 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 $0.23 dividend. This is a positive change 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 dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, November 29th. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 24.28%.

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In other news, SVP Scott R. Lewis sold 5,868 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 approximately $565,777.92. The sale was disclosed in a filing with the SEC, which is available through this link. 1.23% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 15.8% in the second quarter. Nisa Investment Advisors LLC now owns 155,398 shares of the company’s stock worth $6,897,000 after buying an additional 21,241 shares in the last quarter. Hexavest Inc. purchased a new stake in The Hartford Financial Services Group during the second quarter valued at $27,438,000. Marathon Asset Management LLP raised its stake in The Hartford Financial Services Group by 2.0% in the second quarter. Marathon Asset Management LLP now owns 554,560 shares of the company’s stock valued at $24,714,000 after buying an additional 10,736 shares in the last quarter. Capital Analysts LLC raised its stake in 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 in the last quarter. Finally, Foundry Partners LLC raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.

About The Hartford Financial Services Group

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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