Goldman Sachs analyst Alex Scott downgraded Hartford Financial to Neutral from Buy with an unchanged price target of $84. Hartford’s business mix tilted more towards workers’ compensation and the potential for more price competition in standard lines could weaken the company’s ability to continue showing accident year loss ratio improvement, Scott tells investors in a research note. The analyst thinks investors will have an "intense focus" on accident year ratio performance in 2023 and that Hartford’s business mix poses more potential headwinds relative to peers.
Published first on TheFly
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