Hartford Financial Services Group (HIG) Upgraded at Credit Suisse Group

Hartford Financial Services Group (NYSE:HIG) was upgraded by Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, December 19th, MarketBeat Ratings reports. The brokerage presently has a $65.00 price objective on the insurance provider’s stock. Credit Suisse Group’s target price suggests a potential upside of 17.56% from the company’s previous close.

A number of other research firms have also weighed in on HIG. Goldman Sachs Group assumed coverage on Hartford Financial Services Group in a research report on Monday, December 4th. They set a “neutral” rating and a $59.00 price objective for the company. Wells Fargo & Co set a $55.00 price objective on Hartford Financial Services Group and gave the company a “hold” rating in a research report on Monday, December 4th. Zacks Investment Research lowered Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Barclays lifted their target price on Hartford Financial Services Group from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $60.00 target price on shares of Hartford Financial Services Group in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.92.

Shares of Hartford Financial Services Group (NYSE HIG) traded up $0.20 during trading hours on Tuesday, hitting $55.29. The stock had a trading volume of 2,571,800 shares, compared to its average volume of 1,803,012. Hartford Financial Services Group has a 12-month low of $46.35 and a 12-month high of $58.61. The company has a market cap of $19,651.63, a price-to-earnings ratio of 42.21, a P/E/G ratio of 1.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.40 and a quick ratio of 0.40.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, October 23rd. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. The firm had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The business’s revenue was down .7% compared to the same quarter last year. analysts forecast that Hartford Financial Services Group will post 3.35 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its holdings in Hartford Financial Services Group by 5.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,326,105 shares of the insurance provider’s stock valued at $69,714,000 after acquiring an additional 72,955 shares during the period. Dupont Capital Management Corp bought a new stake in Hartford Financial Services Group during the second quarter valued at about $119,000. Legal & General Group Plc raised its holdings in Hartford Financial Services Group by 0.4% during the second quarter. Legal & General Group Plc now owns 1,982,654 shares of the insurance provider’s stock valued at $104,236,000 after acquiring an additional 8,103 shares during the period. Blair William & Co. IL raised its holdings in Hartford Financial Services Group by 8.7% during the second quarter. Blair William & Co. IL now owns 5,018 shares of the insurance provider’s stock valued at $264,000 after acquiring an additional 400 shares during the period. Finally, BB&T Securities LLC raised its holdings in Hartford Financial Services Group by 19.8% during the second quarter. BB&T Securities LLC now owns 27,114 shares of the insurance provider’s stock valued at $1,424,000 after acquiring an additional 4,488 shares during the period. Institutional investors own 88.52% of the company’s stock.

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Hartford Financial Services Group Company Profile

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