Hartford Financial Services Group (HIG) Upgraded at Credit Suisse Group

Hartford Financial Services Group (NYSE:HIG) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports.

Other analysts have also issued reports about the stock. Buckingham Research assumed coverage on shares of Hartford Financial Services Group in a research report on Monday, September 11th. They set a “buy” rating and a $63.00 price target for the company. Zacks Investment Research lowered shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. UBS increased their price target on shares of Hartford Financial Services Group from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Wells Fargo & Company set a $55.00 price target on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research report on Monday, December 4th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $60.00 price target on shares of Hartford Financial Services Group in a research report on Tuesday, October 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.75.

Hartford Financial Services Group (NYSE HIG) traded up $1.09 during mid-day trading on Tuesday, hitting $56.73. 3,585,986 shares of the company’s stock traded hands, compared to its average volume of 2,376,183. The stock has a market capitalization of $19,887.07, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.98. Hartford Financial Services Group has a 1-year low of $46.35 and a 1-year high of $58.61. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.28.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in Hartford Financial Services Group by 5,984.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,181,908 shares of the insurance provider’s stock worth $167,272,000 after buying an additional 3,129,613 shares during the period. JPMorgan Chase & Co. increased its holdings in Hartford Financial Services Group by 10.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,070,898 shares of the insurance provider’s stock worth $1,580,827,000 after buying an additional 2,730,796 shares during the period. Principal Financial Group Inc. increased its holdings in Hartford Financial Services Group by 226.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,921,539 shares of the insurance provider’s stock worth $106,511,000 after buying an additional 1,333,127 shares during the period. FMR LLC increased its holdings in Hartford Financial Services Group by 22.2% in the 2nd quarter. FMR LLC now owns 7,079,010 shares of the insurance provider’s stock worth $372,144,000 after buying an additional 1,284,664 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in Hartford Financial Services Group by 31.7% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 4,202,001 shares of the insurance provider’s stock worth $232,917,000 after buying an additional 1,012,591 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.

WARNING: “Hartford Financial Services Group (HIG) Upgraded at Credit Suisse Group” was first reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/12/19/hartford-financial-services-group-hig-upgraded-at-credit-suisse-group.html.

About Hartford Financial Services Group