Hartford Financial Services Group, Inc. (The) (NYSE:HIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Hartford Financial’s earnings surpassed the Zacks Consensus Estimate but declined year over year primarily due to higher current accident year catastrophe losses. Shares of the company have outperformed the industry year to date. Hartford Financial’s strategic initiatives pave the way for long-term growth. The company’s deal to acquire Aetna’s group life and disability business is likely to strengthen and enhance its Group Benefits distribution capabilities and accelerate its technology strategy. Moreover, the company’s investment results are impressive on the back of recent interest rate hikes. Its efficient capital management also remains a positive. However, being a property and casualty insurer, the company is severely exposed to catastrophic losses. Moreover, softness in Personal Lines and Talcott Resolution segment remains a major headwind.”

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company reaffirmed a “hold” rating and issued a $55.00 price target on shares of Hartford Financial Services Group, Inc. (The) in a research note on Monday. Barclays PLC raised their price target on shares of Hartford Financial Services Group, Inc. (The) from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $60.00 price objective on shares of Hartford Financial Services Group, Inc. (The) in a report on Tuesday, October 3rd. Buckingham Research began coverage on shares of Hartford Financial Services Group, Inc. (The) in a report on Monday, September 11th. They issued a “buy” rating and a $63.00 price objective for the company. Finally, BidaskClub downgraded shares of Hartford Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Hartford Financial Services Group, Inc. (The) has a consensus rating of “Buy” and a consensus target price of $57.08.

Hartford Financial Services Group, Inc. (NYSE HIG) traded up 0.46% during midday trading on Tuesday, reaching $54.31. The company’s stock had a trading volume of 355,241 shares. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 29.81 and a beta of 0.91. The stock’s 50 day moving average price is $54.79 and its 200-day moving average price is $52.52. Hartford Financial Services Group, Inc. has a one year low of $42.30 and a one year high of $57.16.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last issued its quarterly earnings results on Monday, October 23rd. The insurance provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The firm had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.68 billion. Hartford Financial Services Group, Inc. (The) had a net margin of 3.73% and a return on equity of 9.13%. Hartford Financial Services Group, Inc. (The)’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $1.06 EPS. On average, analysts forecast that Hartford Financial Services Group, Inc. will post $3.78 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in HIG. United Capital Financial Advisers LLC increased its holdings in shares of Hartford Financial Services Group, Inc. (The) by 46.2% during the 1st quarter. United Capital Financial Advisers LLC now owns 12,186 shares of the insurance provider’s stock worth $586,000 after buying an additional 3,852 shares during the last quarter. Sii Investments Inc. WI increased its holdings in shares of Hartford Financial Services Group, Inc. (The) by 3.4% during the 1st quarter. Sii Investments Inc. WI now owns 34,490 shares of the insurance provider’s stock worth $1,652,000 after buying an additional 1,131 shares during the last quarter. Highbridge Capital Management LLC increased its holdings in shares of Hartford Financial Services Group, Inc. (The) by 291.9% during the 1st quarter. Highbridge Capital Management LLC now owns 65,000 shares of the insurance provider’s stock worth $3,125,000 after buying an additional 48,415 shares during the last quarter. National Asset Management Inc. increased its holdings in shares of Hartford Financial Services Group, Inc. (The) by 8.3% during the 1st quarter. National Asset Management Inc. now owns 10,972 shares of the insurance provider’s stock worth $529,000 after buying an additional 845 shares during the last quarter. Finally, Paloma Partners Management Co increased its holdings in shares of Hartford Financial Services Group, Inc. (The) by 11.0% during the 1st quarter. Paloma Partners Management Co now owns 87,212 shares of the insurance provider’s stock worth $4,193,000 after buying an additional 8,640 shares during the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

About Hartford Financial Services Group, Inc. (The)

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Analyst Recommendations for Hartford Financial Services Group, Inc. (The) (NYSE:HIG)

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