Hartford Financial Services Group (HIG) Raised to “Buy” at Langen Mcalenn

Langen Mcalenn upgraded shares of Hartford Financial Services Group (NYSE:HIG) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning. Langen Mcalenn also issued estimates for Hartford Financial Services Group’s Q4 2018 earnings at $0.59 EPS, FY2018 earnings at $4.15 EPS, Q1 2019 earnings at $1.28 EPS, Q2 2019 earnings at $1.15 EPS, Q3 2019 earnings at $1.11 EPS and FY2019 earnings at $4.85 EPS.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Hartford Financial Services Group from a hold rating to a buy rating and set a $56.00 target price on the stock in a research report on Monday, August 27th. Buckingham Research set a $58.00 target price on Hartford Financial Services Group and gave the company a buy rating in a research report on Monday, October 29th. Bank of America upgraded Hartford Financial Services Group from a neutral rating to a buy rating and set a $59.00 target price on the stock in a research report on Tuesday, October 9th. They noted that the move was a valuation call. B. Riley upgraded Hartford Financial Services Group from a neutral rating to a buy rating and lifted their target price for the company from $55.00 to $60.00 in a research report on Monday, September 24th. Finally, Sandler O’Neill initiated coverage on Hartford Financial Services Group in a research report on Monday, September 10th. They issued a buy rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Hartford Financial Services Group currently has a consensus rating of Buy and an average price target of $57.00.

NYSE:HIG opened at $42.35 on Tuesday. Hartford Financial Services Group has a 52 week low of $41.13 and a 52 week high of $59.20. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.



Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, October 25th. The insurance provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.11. Hartford Financial Services Group had a positive return on equity of 12.20% and a negative net margin of 11.09%. The company had revenue of $4.80 billion for the quarter. On average, research analysts predict that Hartford Financial Services Group will post 4.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be paid a $0.30 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. Hartford Financial Services Group’s payout ratio is presently 43.80%.

In other news, EVP David C. Robinson sold 2,395 shares of Hartford Financial Services Group stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $45.62, for a total value of $109,259.90. Following the completion of the sale, the executive vice president now directly owns 19,003 shares of the company’s stock, valued at $866,916.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Hartford Financial Services Group by 8,566.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock valued at $106,000 after buying an additional 2,056 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Hartford Financial Services Group in the third quarter valued at $125,000. Hartford Financial Management Inc. acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at $143,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at $215,000. Finally, Dupont Capital Management Corp grew its stake in shares of Hartford Financial Services Group by 52.2% in the second quarter. Dupont Capital Management Corp now owns 4,200 shares of the insurance provider’s stock valued at $215,000 after buying an additional 1,441 shares in the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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

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