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

The Hartford Financial Services Group (NYSE:HIGGet Rating) issued its quarterly earnings data on Thursday. The insurance provider reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.11, MarketWatch Earnings reports. The business had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.60 billion. The Hartford Financial Services Group had a return on equity of 12.39% and a net margin of 10.56%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 earnings per share.

NYSE:HIG opened at $71.27 on Friday. The business’s 50-day moving average is $70.96 and its two-hundred day moving average is $70.80. The firm has a market capitalization of $23.57 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. The Hartford Financial Services Group has a 12 month low of $59.86 and a 12 month high of $78.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Tuesday, March 1st were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $1.54 dividend on an annualized basis and a yield of 2.16%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 23.19%.

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 8,510 shares of the business’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $75.00, for a total value of $638,250.00. Following the transaction, the executive vice president now owns 37,142 shares in the company, valued at approximately $2,785,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott R. Lewis sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the sale, the senior vice president now owns 20,121 shares of the company’s stock, valued at $1,509,075. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,253 shares of company stock worth $2,089,784. Company insiders own 1.55% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group during the 4th quarter worth $34,000. Penserra Capital Management LLC lifted its position in shares of The Hartford Financial Services Group by 20.1% during the fourth quarter. Penserra Capital Management LLC now owns 1,552 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 260 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter worth about $271,000. Toroso Investments LLC raised its stake in The Hartford Financial Services Group by 22.7% during the fourth quarter. Toroso Investments LLC now owns 4,134 shares of the insurance provider’s stock valued at $285,000 after buying an additional 764 shares in the last quarter. Finally, Forum Financial Management LP bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at approximately $325,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

A number of research firms have issued reports on HIG. JPMorgan Chase & Co. reduced their target price on shares of The Hartford Financial Services Group from $79.00 to $76.00 in a report on Thursday, January 6th. Morgan Stanley reduced their price objective on shares of The Hartford Financial Services Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, January 14th. Wells Fargo & Company lifted their target price on shares of The Hartford Financial Services Group from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 4th. StockNews.com began coverage on The Hartford Financial Services Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Barclays raised their price objective on The Hartford Financial Services Group from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Buy” and a consensus target price of $80.18.

The Hartford Financial Services Group Company Profile (Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

Further Reading

Earnings History for The Hartford Financial Services Group (NYSE:HIG)

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