Barclays Maintains a 'Equalweight' on Hartford Financial Services (HIG); Positive on Divestitures, But See ROE Compressed

Barclays maintains a 'Equalweight' on Hartford Financial Services (NYSE: HIG) price target raised from $21 to $23.

Analyst, Jay Gelb, feels that HIG's announcement to divest the rest of its life insurance and annuity businesses (to focus on P&C, group benefits and mutual funds) is a positive. Gelb feels the company is heading in right path, but EPS and ROE will probably remain compressed for a few more years.

Barclays cuts FY12 EPS esitmate from $3.40 to $3.65 maintains FY13 at $3.50.

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 $22.02 yesterday.

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