Evercore ISI Begins Coverage on Hartford Financial Services Group (HIG)

Research analysts at Evercore ISI initiated coverage on shares of Hartford Financial Services Group (NYSE:HIG) in a research report issued to clients and investors on Thursday, June 7th, MarketBeat Ratings reports. The brokerage set an “inline” rating and a $57.00 price target on the insurance provider’s stock. Evercore ISI’s price target points to a potential upside of 7.34% from the company’s current price.

A number of other research firms have also recently commented on HIG. Zacks Investment Research raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday, April 30th. Wells Fargo & Co set a $56.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research report on Friday, February 9th. Citigroup boosted their price target on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the stock a “hold” rating in a research report on Tuesday, May 1st. Finally, TheStreet lowered shares of Hartford Financial Services Group from a “b-” rating to a “c+” rating in a research report on Friday, April 6th. Six research 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 a consensus rating of “Buy” and a consensus target price of $59.38.

Shares of Hartford Financial Services Group stock opened at $53.10 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. Hartford Financial Services Group has a 1 year low of $49.67 and a 1 year high of $59.20. The firm has a market cap of $18.93 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92.



Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 26th. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.20. Hartford Financial Services Group had a negative net margin of 15.59% and a positive return on equity of 8.93%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. equities analysts anticipate that Hartford Financial Services Group will post 4.6 earnings per share for the current fiscal year.

In other news, insider Brion S. Johnson sold 11,569 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $51.91, for a total value of $600,546.79. Following the completion of the transaction, the insider now owns 61,445 shares in the company, valued at approximately $3,189,609.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David C. Robinson sold 682 shares of the company’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $54.94, for a total transaction of $37,469.08. Following the completion of the transaction, the executive vice president now owns 16,942 shares of the company’s stock, valued at approximately $930,793.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,005 shares of company stock worth $3,266,719. Insiders own 1.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC acquired a new stake in Hartford Financial Services Group during the 4th quarter worth $6,212,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Hartford Financial Services Group by 37.0% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 26,300 shares of the insurance provider’s stock worth $1,480,000 after purchasing an additional 7,100 shares during the period. Prana Capital Management LP acquired a new stake in shares of Hartford Financial Services Group in the 4th quarter worth $14,998,000. OppenheimerFunds Inc. lifted its stake in shares of Hartford Financial Services Group by 71.1% in the 4th quarter. OppenheimerFunds Inc. now owns 762,304 shares of the insurance provider’s stock worth $42,902,000 after acquiring an additional 316,897 shares during the period. Finally, Kemnay Advisory Services Inc. lifted its stake in shares of Hartford Financial Services Group by 57.8% in the 4th quarter. Kemnay Advisory Services Inc. now owns 23,355 shares of the insurance provider’s stock worth $1,314,000 after acquiring an additional 8,554 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

Analyst Recommendations for Hartford Financial Services Group (NYSE:HIG)

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