Wells Fargo Maintains a 'Market Perform' on Hartford Financial Services (HIG); Focusing Moves To Property & Casualty Operations

Wells Fargo maintains a 'Market Perform' on Hartford Financial Services (NYSE: HIG) price target range of $18-22.

Wells analyst said, "This morning (3/21) Hartford announced that the company will restructure and focus on its property & casualty (P&C), group benefits and
mutual fund businesses. The company is placing its Individual Annuity business into runoff and is pursuing sales of a larger portion of its life-insurance operations, including Individual Life, Woodbury Financial Services, and Retirement Plans."

"Today's announcement is a positive step for HIG, in our view. The actions should enable the company to focus on the high-returning P&C operations and should result in greater capital and financial flexibility. While these actions fall short of a full split of the company's non-life and life operations, we think they will position the Hartford to better pursue a split in the future."

For an analyst ratings summary and ratings history on Hartford Financial Services click here. For more ratings news on Hartford Financial Services click here.

Shares of Hartford Financial Services closed at $21.71 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• AMD (AMD) to offer senior notes in four parts
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat