$1.60 Earnings Per Share Expected for The Hartford Financial Services Group, Inc. (NYSE:HIG) This Quarter

Equities research analysts expect that The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) will report $1.60 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for The Hartford Financial Services Group’s earnings, with estimates ranging from $1.46 to $1.66. The Hartford Financial Services Group reported earnings per share of $2.33 during the same quarter last year, which suggests a negative year over year growth rate of 31.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that The Hartford Financial Services Group will report full year earnings of $6.95 per share for the current year, with EPS estimates ranging from $6.57 to $7.25. For the next year, analysts anticipate that the firm will report earnings of $8.13 per share, with EPS estimates ranging from $7.90 to $8.60. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for The Hartford Financial Services Group.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The insurance provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. The Hartford Financial Services Group had a return on equity of 14.84% and a net margin of 11.39%. The firm had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis.

Several brokerages have issued reports on HIG. Barclays upped their target price on The Hartford Financial Services Group from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 12th. StockNews.com started coverage on The Hartford Financial Services Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Raymond James increased their price objective on The Hartford Financial Services Group from $80.00 to $85.00 in a report on Tuesday, May 3rd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $80.58.

Shares of NYSE HIG traded down $0.65 during midday trading on Friday, hitting $66.79. 4,071,035 shares of the company’s stock were exchanged, compared to its average volume of 2,193,209. 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 current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 1.39 and a beta of 0.97. The business’s fifty day moving average price is $71.56 and its two-hundred day moving average price is $70.46.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st will be given a $0.385 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $1.54 annualized dividend and a yield of 2.31%. The Hartford Financial Services Group’s payout ratio is 21.18%.

In other news, CEO Christopher Swift sold 47,130 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $72.89, for a total value of $3,435,305.70. Following the completion of the transaction, the chief executive officer now owns 172,129 shares in the company, valued at approximately $12,546,482.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott R. Lewis sold 5,000 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 $375,000.00. Following the transaction, the senior vice president now owns 20,121 shares of the company’s stock, valued at approximately $1,509,075. The disclosure for this sale can be found here. Insiders sold 122,597 shares of company stock worth $8,980,210 over the last three months. Insiders own 1.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HIG. State Street Corp grew its holdings in The Hartford Financial Services Group by 1.1% during the fourth quarter. State Street Corp now owns 20,375,936 shares of the insurance provider’s stock worth $1,414,434,000 after acquiring an additional 225,635 shares during the period. JPMorgan Chase & Co. grew its holdings in The Hartford Financial Services Group by 2.8% in the fourth quarter. JPMorgan Chase & Co. now owns 18,973,835 shares of the insurance provider’s stock valued at $1,309,954,000 after purchasing an additional 508,977 shares during the period. Invesco Ltd. grew its holdings in The Hartford Financial Services Group by 1.7% in the first quarter. Invesco Ltd. now owns 7,574,487 shares of the insurance provider’s stock valued at $543,925,000 after purchasing an additional 127,350 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in The Hartford Financial Services Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,612,529 shares of the insurance provider’s stock valued at $403,036,000 after purchasing an additional 307,231 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in The Hartford Financial Services Group by 1.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,183,948 shares of the insurance provider’s stock valued at $288,860,000 after purchasing an additional 77,493 shares during the period. Institutional investors own 93.01% of the company’s stock.

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.

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

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