The Hartford Financial Services Group, Inc. (NYSE:HIG) Expected to Announce Quarterly Sales of $3.69 Billion

Equities analysts expect The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) to report $3.69 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for The Hartford Financial Services Group’s earnings. The lowest sales estimate is $3.67 billion and the highest is $3.72 billion. The Hartford Financial Services Group posted sales of $3.57 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3.4%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that The Hartford Financial Services Group will report full-year sales of $14.86 billion for the current year. For the next fiscal year, analysts anticipate that the company will report sales of $15.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow 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 analysts’ consensus estimates of $1.55 by $0.11. The Hartford Financial Services Group had a net margin of 11.39% and a return on equity of 14.84%. The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 1.8% compared to the same quarter last year.

Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of The Hartford Financial Services Group in a report on Thursday, March 31st. They set a “buy” rating for the company. Morgan Stanley lowered their target price on shares of The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday. Barclays upped their target price on shares of The Hartford Financial Services Group from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Raymond James upped their target price on shares of The Hartford Financial Services Group from $80.00 to $85.00 in a research report on Tuesday, May 3rd. Finally, Citigroup assumed coverage on shares of The Hartford Financial Services Group in a research report on Monday. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $80.25.

Shares of NYSE:HIG opened at $68.63 on Tuesday. The company has a 50-day simple moving average of $71.57 and a 200-day simple moving average of $70.44. The Hartford Financial Services Group has a one year low of $59.86 and a one year high of $78.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market capitalization of $22.57 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.39 and a beta of 0.97.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio is currently 21.18%.

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 8,510 shares of the business’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $75.00, for a total transaction of $638,250.00. Following the sale, the executive vice president now directly owns 37,142 shares in the company, valued at approximately $2,785,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Beth Ann Costello sold 47,214 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 $73.18, for a total transaction of $3,455,120.52. Following the completion of the transaction, the chief financial officer now directly owns 50,503 shares in the company, valued at approximately $3,695,809.54. The disclosure for this sale can be found here. Insiders sold a total of 122,597 shares of company stock valued at $8,980,210 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HIG. Covestor Ltd purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $27,000. Confluence Wealth Services Inc. acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $28,000. Parkside Investments LLC acquired a new stake in shares of The Hartford Financial Services Group in the first quarter worth $30,000. James Reed Financial Services Inc. acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $34,000. Finally, EverSource Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group during the 4th quarter valued at $34,000. 93.01% of the stock is currently owned by institutional investors.

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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