Sterne Agee Maintains Hartford Financial Services Buy

Sterne Agee maintained its Hartford Financial Services (NYSE: HIG) Buy rating in a research report published today. Sterne Agee has a $26 price target on Hartford Financial Services shares.

In the report, Sterne Agee stated that, "Among the positive takeaways we note [that] Separating run-off businesses from ongoing businesses. About 30% of GAAP equity (~$6b) supports the run-off segment, which includes Int'l VA, Institutional Investment Products, COLI/BOLI, and run-off P&C ops. These businesses together produce ~2-3% ROE and mgmt will focus on shrinking these businesses to free up capital over time for redeployment elsewhere or return to shareholder."

Shares of Hartford Financial Services were trading at $17.46 at the time of posting, up 1.51% from Thursday's market close.