Follow The Ratings: Will FBR & Co. Downgrade Harm Hartford Financial (HIG) Stock Price Today?

November 28, 2016 - By Linda Rogers

Follow The Ratings:  Will FBR & Co. Downgrade Harm Hartford Financial (HIG) Stock Price Today?

Hartford Financial (HIG) Downgrade

In a a research note issued to clients and investors on 28 November, research professionals at FBR & Co.’s research division lowered Hartford Financial (HIG)‘s stock from a “Outperform” to “Mkt Perform”. They have a target of $47.0 on HIG or -1.82% more downside.

The stock decreased 0.27% or $0.13 on November 25, hitting $47.87. Hartford Financial Services Group Inc (HIG) has risen 6.85% since April 25, 2016 and is uptrending. It has outperformed by 0.84% the S&P500.

Analysts await Hartford Financial Services Group Inc (NYSE:HIG) to report earnings on February, 2. They expect $1.03 EPS, down 3.74% or $0.04 from last year’s $1.07 per share. HIG’s profit will be $387.94 million for 11.62 P/E if the $1.03 EPS becomes a reality. After $1.06 actual EPS reported by Hartford Financial Services Group Inc for the previous quarter, Wall Street now forecasts -2.83% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 0.67 in 2016 Q2. Its down 0.10, from 0.77 in 2016Q1. The ratio turned negative, as 51 funds sold all Hartford Financial Services Group Inc shares owned while 228 reduced positions. 57 funds bought stakes while 159 increased positions. They now own 340.13 million shares or 4.98% less from 357.97 million shares in 2016Q1.

Great West Life Assurance Can owns 278,667 shares or 0.05% of their US portfolio. First Personal Fincl Serv holds 218 shares or 0% of its portfolio. Seminole Communications Incorporated has 2% invested in the company for 444,088 shares. Bessemer Group Inc last reported 0% of its portfolio in the stock. Teacher Retirement Sys Of Texas accumulated 0.54% or 1.79M shares. Point72 Asia (Hong Kong) Limited has invested 0.05% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG). Thompson Siegel Walmsley Limited holds 0% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG) for 1,320 shares. Fred Alger Mgmt reported 31,804 shares or 0.01% of all its holdings. Canada Pension Plan Invest Board accumulated 98,135 shares or 0.02% of the stock. Northern Trust Corporation last reported 5.11M shares in the company. Moreover, Cornerstone Mngmt Ltd Company has 0.15% invested in Hartford Financial Services Group Inc (NYSE:HIG) for 409,034 shares. Marshall Wace Llp accumulated 0% or 4,860 shares. Clean Yield Group, a Vermont-based fund reported 850 shares. First Manhattan reported 764 shares or 0% of all its holdings. Millennium Mgmt Limited Liability Company has 0.16% invested in the company for 1.53 million shares.

Insider Transactions: Since June 6, 2016, the stock had 1 insider purchase, and 2 selling transactions for $474,031 net activity. Another trade for 5,868 shares valued at $259,131 was sold by Lewis Scott R.. On Monday, June 6 RENYI THOMAS A bought $87,688 worth of the stock or 1,965 shares. SWYGERT H PATRICK had sold 7,500 shares worth $302,588.

The Hartford Financial Services Group, Inc. is a holding company. The company has a market cap of $18.03 billion. The Firm operates through six divisions: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds and Talcott Resolution. It has a 13.79 P/E ratio. Commercial Lines segment provides workers’ compensation, property, automobile, liability, umbrella, marine and livestock coverages to businesses, throughout the United States.

According to Zacks Investment Research, “Hartford Financial Services is one of the nation’s largest investment and insurance companies, offers a complete line of insurance and financial service products to customers all over the world. The company is a provider of automobile and homeowners coverages; commercial property and casualty insurance; reinsurance; and a variety of life insurance, investment products, employee benefits, group retirement plans and institutional liability funding products.”

HIG Company Profile

The Hartford Financial Services Group, Inc., incorporated on December 9, 1985, is a holding firm for insurance and financial services subsidiaries. The Company, through its subsidiaries, provides property and casualty insurance, group life and disability products, and mutual funds to individual and business clients in the United States. The Firm operates through six divisions: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds and Talcott Resolution. The Firm manages life and annuity products.

More news for Hartford Financial Services Group Inc (NYSE:HIG) were recently published by: Forbes.com, which released: “Hartford Financial Services Group Reaches Analyst Target Price” on November 15, 2016. Investorplace.com‘s article titled: “Why CIGNA Corporation (CI), Hartford Financial Services Group Inc (HIG) and …” and published on July 29, 2016 is yet another important article.

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