Hartford Financial Services Group (HIG) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of Hartford Financial Services Group (NYSE:HIG) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $59.00 price target on the insurance provider’s stock.

HIG has been the subject of several other research reports. BidaskClub downgraded shares of Hartford Financial Services Group from a buy rating to a hold rating in a research report on Friday, August 25th. Zacks Investment Research raised shares of Hartford Financial Services Group from a hold rating to a buy rating and set a $60.00 price objective for the company in a research report on Thursday, September 14th. Wells Fargo & Company set a $55.00 price objective on shares of Hartford Financial Services Group and gave the stock a hold rating in a research report on Thursday, November 16th. UBS increased their price objective on shares of Hartford Financial Services Group from $60.00 to $62.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. Finally, Barclays raised their target price on shares of Hartford Financial Services Group from $61.00 to $64.00 and gave the company an overweight rating in a research report on Monday, October 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $58.92.

Shares of Hartford Financial Services Group (NYSE HIG) traded down $0.38 during mid-day trading on Wednesday, hitting $55.55. 1,689,385 shares of the stock traded hands, compared to its average volume of 2,646,066. 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 has a 52 week low of $46.35 and a 52 week high of $58.61. The company has a market capitalization of $19,951.28, a P/E ratio of 42.40, a price-to-earnings-growth ratio of 1.65 and a beta of 0.98.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 23rd. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Hartford Financial Services Group had a net margin of 2.63% and a return on equity of 8.21%. The company had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. sell-side analysts predict that Hartford Financial Services Group will post 3.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.25 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.23. Hartford Financial Services Group’s dividend payout ratio (DPR) is 76.34%.

A number of institutional investors have recently added to or reduced their stakes in HIG. Janus Henderson Group PLC lifted its stake in Hartford Financial Services Group by 5,984.5% in the second quarter. Janus Henderson Group PLC now owns 3,181,908 shares of the insurance provider’s stock valued at $167,272,000 after acquiring an additional 3,129,613 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hartford Financial Services Group by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 30,070,898 shares of the insurance provider’s stock valued at $1,580,827,000 after acquiring an additional 2,730,796 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Hartford Financial Services Group by 226.6% in the third quarter. Principal Financial Group Inc. now owns 1,921,539 shares of the insurance provider’s stock valued at $106,511,000 after acquiring an additional 1,333,127 shares during the last quarter. FMR LLC lifted its stake in Hartford Financial Services Group by 22.2% in the second quarter. FMR LLC now owns 7,079,010 shares of the insurance provider’s stock valued at $372,144,000 after acquiring an additional 1,284,664 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Hartford Financial Services Group by 31.7% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 4,202,001 shares of the insurance provider’s stock valued at $232,917,000 after acquiring an additional 1,012,591 shares during the last quarter. 88.52% of the stock is owned by institutional investors and hedge funds.

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