Rating Report: Hartford Financial Services (NYSE:HIG)’s Is Reaching An Inflection Point; FBR & Co. Downgrades It

November 28, 2016 - By Vivian Park

Rating Report:  Hartford Financial Services (NYSE:HIG)'s Is Reaching An Inflection Point; FBR & Co. Downgrades It

Hartford Financial Services (NYSE:HIG) Downgrade

Hartford Financial Services (NYSE:HIG) was decreased by equity analysts at FBR & Co. from a Outperform rating to a Mkt Perform rating in a an analyst report published on 28 November. The firm now has a $47.00 target price on the stock. FBR & Co.’s target price indicates a potential downside of -1.82%.

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. Atlantic Securities downgraded the stock to “Neutral” rating in Wednesday, October 28 report. The firm has “Market Perform” rating given on Tuesday, May 17 by Wells Fargo. The firm has “Neutral” rating given on Tuesday, January 19 by Nomura. Zacks upgraded the shares of HIG in a report on Tuesday, September 1 to “Hold” rating. The rating was maintained by UBS with “Buy” on Wednesday, August 19. M Partners maintained it with “Buy” rating and $50 target price in Friday, July 29 report. 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 firm has “Neutral” rating given on Wednesday, August 10 by Atlantic Securities. The firm earned “Hold” rating on Thursday, August 20 by Zacks. The stock has “Overweight” rating given by Atlantic Securities on Tuesday, January 26.

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 earnings per share, 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 earnings per share 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 Q2 2016. Its down 0.10, from 0.77 in 2016Q1. The ratio dropped, 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.

Hightower Ltd Liability has invested 0.04% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG). Adirondack Rech And Management has invested 0.34% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG). Ahl Prtn Llp holds 0.06% of its portfolio in Hartford Financial Services Group Inc (NYSE:HIG) for 23,289 shares. Lombard Odier Asset Mngmt (Switzerland) Sa, a Switzerland-based fund reported 20,347 shares. Moreover, Johnson Finance Gp Inc has 0.02% invested in Hartford Financial Services Group Inc (NYSE:HIG) for 2,528 shares. Davenport & Co Limited Liability reported 18,694 shares or 0% of all its holdings. Quantum Capital Mngmt accumulated 1.93% or 308,019 shares. Delta Asset Management Lc Tn last reported 0.01% of its portfolio in the stock. Parkwood Ltd last reported 6,344 shares in the company. State Of Tennessee Treasury Department holds 0.07% or 314,349 shares in its portfolio. Comerica National Bank holds 0.03% or 95,931 shares in its portfolio. Estabrook Capital Mgmt accumulated 700 shares or 0% of the stock. Architects Inc accumulated 947 shares or 0.01% of the stock. Citigroup Incorporated reported 211,825 shares or 0.01% of all its holdings. Paloma Prns owns 74,021 shares or 0.04% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 1 insider buy, and 2 sales for $474,031 net activity. SWYGERT H PATRICK also sold $302,588 worth of Hartford Financial Services Group Inc (NYSE:HIG) on Monday, August 29. 1,965 shares were bought by RENYI THOMAS A, worth $87,688 on Monday, June 6. 5,868 Hartford Financial Services Group Inc (NYSE:HIG) shares with value of $259,131 were sold by Lewis Scott R..

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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