Hartford Financial Services Group (NYSE:HIG) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, StockRatingsNetwork reports.
The analysts wrote, “Hartford Financial Services Group (HIG) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Hartford Financial Services Group in a research note to investors on Tuesday, July 30th. They now have a $32.00 price target on the stock. Separately, analysts at Bank of America Corp. raised their price target on shares of Hartford Financial Services Group to $34.00 in a research note to investors on Tuesday, July 30th. They now have a “buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Hartford Financial Services Group from $28.00 to $32.00 in a research note to investors on Thursday, July 18th. They now have a “market perform” rating on the stock.
Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Hartford Financial Services Group currently has a consensus rating of “Buy” and a consensus price target of $33.67.
Hartford Financial Services Group (NYSE:HIG) traded down 0.35% on Wednesday, hitting $31.39. Hartford Financial Services Group has a 52-week low of $17.15 and a 52-week high of $32.33. The stock’s 50-day moving average is currently $31.3. The company’s market cap is $14.283 billion.
Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, July 29th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.05. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Analysts expect that Hartford Financial Services Group will post $3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, August 29th. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.10.
Hartford Financial Services Group Inc, formerly The Hartford Financial Services Group, Inc, is an insurance and financial services company.