On Oct 10, major Wall Street analysts update their ratings for $Hartford Financial Services (HIG.US)$, with price targets ranging from $122 to $134.
J.P. Morgan analyst Jimmy Bhullar maintains with a hold rating, and adjusts the target price from $117 to $122.
BofA Securities analyst Joshua Shanker maintains with a hold rating, and adjusts the target price from $121 to $124.
UBS analyst Brian Meredith maintains with a buy rating, and adjusts the target price from $107 to $134.
Jefferies analyst Yaron Kinar maintains with a hold rating, and adjusts the target price from $113 to $127.
Furthermore, according to the comprehensive report, the opinions of $Hartford Financial Services (HIG.US)$'s main analysts recently are as follows:
It is anticipated that the third quarter's global catastrophe events will result in 'manageable' catastrophe losses for property and casualty insurers. As a proactive measure, 'placeholder' losses have been incorporated into the fourth quarter models in anticipation of the impact from Hurricane Milton, although there is still uncertainty following its recent landfall. Changes in the sector's outlook reflect the events of the quarter alongside adjustments in various P/E multiples.
The fundamental outlook for the property and casualty sector is viewed positively going into the Q3 reports. Despite this optimism and the sector's defensive risk profile, there is a temperance in views on stocks due to bullish sentiment and valuations. Firm pricing and the sector's defensive stance are considered key advantages, although the expectations for margins at underwriters and sales growth at brokers may be on the higher side.
The third-quarter outcomes, especially for reinsurers, might be eclipsed by the recent Hurricane Milton, according to an analyst. There is a positive outlook on the Personal segment due to improved margins and an increase in policies-in-force. For the third quarter, catastrophe losses are anticipated to be lower than the five-year seasonal average, yet still significantly higher than in the same quarter of the previous year, which may present challenges for primary insurers.
Here are the latest investment ratings and price targets for $Hartford Financial Services (HIG.US)$ from 4 analysts:
Note:
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