Market Overview

UPDATE: Stifel Nicolaus Raises PT to $28 on Hartford Financial Services on Valuation and Catalysts

Share:
Related HIG
Earnings Scheduled For February 2, 2017
More ETF Fee Cuts, This Time From Hartford
Smartphones drive auto insurance rates higher (Seeking Alpha)

Stifel Nicolaus reiterated its Buy rating on Hartford Financial Services (NYSE: HIG) and raised its price target from $25 to $28.

Stifel Nicolaus noted, "Shares of HIG currently trade at only 46% of current book value, well below its P&C peers' 109% average and life insurers' 71% average, which we think reflects investors' caution over HIG's restructuring. We think the shares will outperform as core P&C results improve, and as Hartford finalizes and discloses its planned use of the $2.2 billion of statutory capital freed up from its recent unit sales. Our $28 target price represents 53% of 2013E BVPS or about 8.2x our 2014E EPS."

Hartford Financial Services closed at $22.30 on Wednesday.

Latest Ratings for HIG

DateFirmActionFromTo
Jan 2017Credit SuisseDowngradesOutperformNeutral
Dec 2016RBC CapitalUpgradesSector PerformOutperform
Nov 2016FBR CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for HIG
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (HIG)

View Comments and Join the Discussion!