The Hartford Financial Services Group (NYSE:HIG) Stock Rating Lowered by Citigroup

The Hartford Financial Services Group (NYSE:HIG) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. They presently have a $114.00 price objective on the insurance provider’s stock, down from their prior price objective of $116.00. Citigroup’s target price points to a potential upside of 10.95% from the stock’s previous close.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group lifted their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Argus increased their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Evercore ISI raised their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $106.12.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $102.75 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $30.39 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.84 and a beta of 0.93. The stock has a 50-day moving average of $100.50 and a two-hundred day moving average of $94.22. The Hartford Financial Services Group has a 1-year low of $68.82 and a 1-year high of $105.20.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business posted $1.68 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that The Hartford Financial Services Group will post 9.91 EPS for the current year.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A number of institutional investors have recently added to or reduced their stakes in HIG. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth $278,704,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after acquiring an additional 1,272,290 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of The Hartford Financial Services Group by 72.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after acquiring an additional 559,019 shares in the last quarter. Swedbank AB acquired a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $53,980,000. Finally, Nordea Investment Management AB increased its stake in The Hartford Financial Services Group by 20.2% in the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock valued at $237,600,000 after purchasing an additional 497,916 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.