Hartford Financial (HIG) Receives a Buy from Barclays

Barclays analyst Tracy Benguigui maintained a Buy rating on Hartford Financial (HIGResearch Report) on January 9 and set a price target of $89.00. The company’s shares closed yesterday at $76.20.

According to TipRanks, Benguigui is a 4-star analyst with an average return of 4.7% and a 57.14% success rate. Benguigui covers the Financial sector, focusing on stocks such as Allstate, Arch Capital Group, and American International Group.

In addition to Barclays, Hartford Financial also received a Buy from Piper Sandler’s Paul Newsome in a report issued yesterday. However, on the same day, Evercore ISI downgraded Hartford Financial (NYSE: HIG) to a Hold.

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HIG market cap is currently $25.1B and has a P/E ratio of 13.38.

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The Hartford Financial Services Group, Inc. is an insurance and financial services company. The company provides life insurance, group and employee benefits, automobile and homeowners insurance and business insurance, as well as investment products, annuities, mutual funds, and college savings plans. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits and Hartford Funds. The Commercial Lines segment provides workers compensation, property, automobile, liability and umbrella coverage under several different products, primarily throughout the U.S., within its standard commercial lines, which consists of The Hartford’s small commercial and middle market lines of business. The Personal Lines segment includes automobile, homeowners and home-based business coverage to individuals across the U.S. The Property & Casualty Other Operations segment includes certain property and casualty operations, currently managed by the company, that have discontinued writing new business and substantially all of the company’s asbestos and environmental exposures. The Group Benefits segment offers group life, accident and disability coverage, group retiree health and voluntary benefits to individual members of employer groups, associations, affinity groups and financial institutions. The Hartford Funds segment offers investment products for retail and retirement accounts and provides investment management and administrative services such as product design, implementation and oversight. The Hartford Financial Services Group was founded on May 10, 1810 and is headquartered in Hartford, CT.

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