Wells Fargo & Company Analysts Give Hartford Financial Services Group (HIG) a $55.00 Price Target

Wells Fargo & Company set a $55.00 price objective on Hartford Financial Services Group (NYSE:HIG) in a research report released on Monday. The brokerage currently has a hold rating on the insurance provider’s stock.

HIG has been the topic of several other research reports. BidaskClub cut Hartford Financial Services Group from a buy rating to a hold rating in a report on Friday, August 25th. Zacks Investment Research raised Hartford Financial Services Group from a hold rating to a buy rating and set a $60.00 price target on the stock in a report on Thursday, September 14th. UBS raised their price target on Hartford Financial Services Group from $60.00 to $62.00 and gave the company a buy rating in a report on Wednesday, November 1st. Barclays raised their price target on Hartford Financial Services Group from $61.00 to $64.00 and gave the company an overweight rating in a report on Monday, October 16th. Finally, B. Riley reaffirmed a neutral rating on shares of Hartford Financial Services Group in a report on Monday, November 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $57.54.

Shares of Hartford Financial Services Group (NYSE HIG) opened at $54.92 on Monday. The stock has a market capitalization of $19,410.00, a PE ratio of 15.19, a P/E/G ratio of 1.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.40 and a current ratio of 0.40. Hartford Financial Services Group has a 1-year low of $46.35 and a 1-year high of $58.61.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 23rd. The insurance provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. The firm had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter last year, the firm posted $1.06 EPS. The company’s revenue was down .7% compared to the same quarter last year. analysts expect that Hartford Financial Services Group will post 3.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 30th. This is a positive change from Hartford Financial Services Group’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. Hartford Financial Services Group’s dividend payout ratio is 76.34%.

Institutional investors have recently made changes to their positions in the company. Dupont Capital Management Corp bought a new position in shares of Hartford Financial Services Group during the 2nd quarter valued at about $119,000. Sun Life Financial INC increased its position in shares of Hartford Financial Services Group by 26,810.0% during the 2nd quarter. Sun Life Financial INC now owns 2,691 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 2,681 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of Hartford Financial Services Group during the 2nd quarter valued at about $148,000. Wesbanco Bank Inc. bought a new position in shares of Hartford Financial Services Group during the 3rd quarter valued at about $206,000. Finally, Bahl & Gaynor Inc. bought a new position in shares of Hartford Financial Services Group during the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.

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