The Hartford Financial Services Group (NYSE:HIG) Announces Earnings Results

The Hartford Financial Services Group (NYSE:HIG) released its earnings results on Thursday. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09), Briefing.com reports. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 21.04% and a net margin of 10.87%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share.

The Hartford Financial Services Group Trading Down 3.8 %

Shares of HIG opened at $95.30 on Friday. The Hartford Financial Services Group has a twelve month low of $67.05 and a twelve month high of $103.64. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $28.33 billion, a P/E ratio of 10.83, a PEG ratio of 1.34 and a beta of 0.89. The firm’s 50-day moving average is $98.50 and its two-hundred day moving average is $86.34.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Insider Activity

In related news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the sale, the executive vice president now owns 46,792 shares in the company, valued at approximately $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares of the company’s stock, valued at approximately $4,397,044.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. In the last three months, insiders sold 106,501 shares of company stock worth $10,141,126. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the subject of several research analyst reports. Citigroup upped their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. TD Cowen raised their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Roth Mkm upped their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley lowered their target price on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.81.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.