The Hartford Financial Services Group (NYSE:HIG) Downgraded by Citigroup to "Neutral"

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a report released on Friday, MarketBeat reports. They currently have a $114.00 price target on the insurance provider's stock, down from their previous price target of $116.00. Citigroup's price objective suggests a potential upside of 13.39% from the stock's previous close.

Several other brokerages have also issued reports on HIG. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. TD Cowen upped their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Wells Fargo & Company reduced their target price on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an "overweight" rating for the company in a research note on Monday, April 29th. Argus upped their price target on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley cut their price objective on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an "equal weight" rating for the company in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $106.71.

The Hartford Financial Services Group Stock Performance

HIG traded down $2.21 during trading on Friday, hitting $100.54. 2,922,749 shares of the company traded hands, compared to its average volume of 1,698,656. The Hartford Financial Services Group has a one year low of $68.82 and a one year high of $105.20. The stock's fifty day moving average is $100.65 and its 200 day moving average is $94.43. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The firm has a market cap of $29.74 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 earnings per share. As a group, equities analysts predict that The Hartford Financial Services Group will post 9.91 EPS for the current fiscal year.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the sale, the executive vice president now owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 72,076 shares of the company's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the transaction, the chief financial officer now owns 69,169 shares of the company's stock, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at about $278,704,000. Hotchkis & Wiley Capital Management LLC lifted its position in The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider's stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of The Hartford Financial Services Group by 72.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider's stock valued at $137,633,000 after purchasing an additional 559,019 shares during the period. Swedbank AB bought a new position in shares of The Hartford Financial Services Group in the first quarter worth approximately $53,980,000. Finally, Nordea Investment Management AB increased its stake in shares of The Hartford Financial Services Group by 20.2% in the fourth quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider's stock worth $237,600,000 after buying an additional 497,916 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.