Rating Coverage: Time To Sell Hartford Financial (NYSE:HIG), FBR & Co. Downgrades It

November 28, 2016 - By Dolores Ford

Rating Coverage:  Time To Sell Hartford Financial (NYSE:HIG), FBR & Co. Downgrades It

Hartford Financial (NYSE:HIG) Downgrade

Hartford Financial (NYSE:HIG)‘s stock was decreased to a “Mkt Perform” by professional analysts at FBR & Co., who have a TP of $47 on HIG. The firm’s “Outperform” rating is no longer valid.

Hartford Financial Services Group Inc (NYSE:HIG) Ratings Coverage

Out of 10 analysts covering Hartford Financial (NYSE:HIG), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $55 is the highest target while $40 is the lowest. The $49.88 average target is 4.20% above today’s ($47.87) stock price. Hartford Financial has been the topic of 18 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Hartford Financial Services Group Inc (NYSE:HIG) earned “Neutral” rating by Bank of America on Wednesday, November 16. As per Tuesday, January 19, the company rating was initiated by Nomura. On Wednesday, August 19 the stock rating was maintained by UBS with “Buy”. FBR Capital maintained Hartford Financial Services Group Inc (NYSE:HIG) rating on Monday, August 3. FBR Capital has “Outperform” rating and $53 price target. The stock of Hartford Financial Services Group Inc (NYSE:HIG) has “Market Perform” rating given on Tuesday, May 17 by Wells Fargo. The firm has “Neutral” rating by Atlantic Securities given on Wednesday, October 28. As per Wednesday, November 18, the company rating was downgraded by Argus Research. Zacks upgraded Hartford Financial Services Group Inc (NYSE:HIG) on Thursday, August 20 to “Hold” rating. The rating was maintained by M Partners with “Buy” on Tuesday, July 28. The stock has “Buy” rating given by M Partners on Friday, July 29.

The stock decreased 0.27% or $0.13 on November 25, hitting $47.87. Hartford Financial Services Group Inc (NYSE: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 $387.94M 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 fall, 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.

Chevy Chase Inc reported 338,378 shares or 0.08% of all its holdings. Moreover, Cornerstone Advsrs has 0.02% invested in Hartford Financial Services Group Inc (NYSE:HIG) for 408 shares. Gyroscope Cap Mgmt Grp Limited Liability accumulated 0.51% or 14,031 shares. Westwood Grp holds 1.08% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG) for 2.75 million shares. Ubs Oconnor Ltd Liability Co has 130,621 shares for 0% of their US portfolio. Umb Fincl Bank N A Mo last reported 150,856 shares in the company. Lpl Fincl Limited Liability has invested 0.01% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG). Blackrock Fund Advisors, a California-based fund reported 6.18 million shares. Gotham Asset Mngmt Ltd reported 4,665 shares or 0% of all its holdings. Fifth Third National Bank reported 321,689 shares or 0.12% of all its holdings. Clearbridge Ltd Liability Company holds 0% or 399 shares in its portfolio. Pacific Global Investment Management has 0.13% invested in the company for 12,721 shares. The Minnesota-based Advantus has invested 0.05% in Hartford Financial Services Group Inc (NYSE:HIG). Moreover, Andra Ap has 0.13% invested in Hartford Financial Services Group Inc (NYSE:HIG) for 118,200 shares. Sage Fin owns 1,500 shares or 0.02% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 1 buying transaction, and 2 sales for $474,031 net activity. $259,131 worth of Hartford Financial Services Group Inc (NYSE:HIG) shares were sold by Lewis Scott R.. SWYGERT H PATRICK sold $302,588 worth of stock or 7,500 shares. RENYI THOMAS A bought $87,688 worth of stock or 1,965 shares.

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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