Hartford Financial Services Group, Inc. (The) (NYSE:HIG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $60.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.43% from the company’s previous close.

According to Zacks, “Year to date,  shares of Hartford Financial have outperformed the industry. The company is well poised for long-term growth, given its strong foothold in the property and casualty market. The recent interest rate hikes have significantly favored the company’s investment results, boosting its top line in turn. Moreover, the company has taken up several action plans to improve its risk profile which are likely to drive the company's underwriting results going forward. Efficient capital management also helps it in enhancing shareholders' value through several capital deployment activities. The company has seen the Zacks Consensus Estimates for 2017 and 2018 earnings being revised upward in last 60 days.”

A number of other brokerages have also recently commented on HIG. BidaskClub upgraded Hartford Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Barclays PLC increased their price target on Hartford Financial Services Group, Inc. (The) from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Deutsche Bank AG reiterated a “buy” rating and issued a $61.00 price target (up from $60.00) on shares of Hartford Financial Services Group, Inc. (The) in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price target on shares of Hartford Financial Services Group, Inc. (The) in a research note on Sunday, July 30th. Finally, Buckingham Research began coverage on Hartford Financial Services Group, Inc. (The) in a research note on Monday. They issued a “buy” rating and a $63.00 price target for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Hartford Financial Services Group, Inc. (The) has a consensus rating of “Buy” and a consensus price target of $56.91.

Hartford Financial Services Group, Inc. (NYSE HIG) traded down 0.27% during midday trading on Thursday, hitting $53.37. The stock had a trading volume of 1,374,501 shares. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 29.29 and a beta of 0.92. Hartford Financial Services Group, Inc. has a 1-year low of $41.61 and a 1-year high of $57.16. The company has a 50-day moving average of $54.83 and a 200-day moving average of $51.15.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last released its earnings results on Thursday, July 27th. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.10. Hartford Financial Services Group, Inc. (The) had a return on equity of 9.13% and a net margin of 3.73%. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Hartford Financial Services Group, Inc. will post $4.23 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Westside Investment Management Inc. increased its holdings in Hartford Financial Services Group, Inc. (The) by 85.8% in the first quarter. Westside Investment Management Inc. now owns 2,165 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 1,000 shares during the period. Dupont Capital Management Corp acquired a new stake in Hartford Financial Services Group, Inc. (The) in the second quarter valued at $119,000. Sun Life Financial INC increased its holdings in Hartford Financial Services Group, Inc. (The) by 26,810.0% in the second quarter. Sun Life Financial INC now owns 2,691 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 2,681 shares during the period. Hartford Financial Management Inc. increased its holdings in Hartford Financial Services Group, Inc. (The) by 5.7% in the second quarter. Hartford Financial Management Inc. now owns 2,803 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 150 shares during the period. Finally, Howard Hughes Medical Institute acquired a new stake in Hartford Financial Services Group, Inc. (The) in the second quarter valued at $148,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

Hartford Financial Services Group, Inc. (The) Company Profile

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