The Hartford (NYSE:HIG) – B. Riley issued their Q1 2018 EPS estimates for shares of The Hartford in a note issued to investors on Thursday, April 12th. B. Riley analyst R. Binner forecasts that the insurance provider will post earnings per share of $1.03 for the quarter.
Several other brokerages have also recently issued reports on HIG. Zacks Investment Research raised The Hartford from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, March 6th. ValuEngine raised The Hartford from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group raised The Hartford from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, December 19th. Wells Fargo set a $56.00 target price on The Hartford and gave the stock a “hold” rating in a research report on Monday, April 2nd. Finally, TheStreet cut The Hartford from a “b-” rating to a “c+” rating in a research report on Friday, April 6th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $59.42.
The Hartford (NYSE:HIG) last announced its earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.54 billion. The Hartford had a positive return on equity of 7.89% and a negative net margin of 16.79%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share.
Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of The Hartford by 48.3% during the 4th quarter. Franklin Resources Inc. now owns 8,880,765 shares of the insurance provider’s stock valued at $499,810,000 after buying an additional 2,892,470 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of The Hartford by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 7,517,341 shares of the insurance provider’s stock valued at $423,074,000 after buying an additional 31,502 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of The Hartford by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,833,222 shares of the insurance provider’s stock valued at $215,287,000 after buying an additional 77,475 shares in the last quarter. Millennium Management LLC lifted its holdings in The Hartford by 15.8% in the 4th quarter. Millennium Management LLC now owns 1,958,892 shares of the insurance provider’s stock worth $110,246,000 after purchasing an additional 267,950 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in The Hartford by 3.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,472,195 shares of the insurance provider’s stock worth $82,855,000 after purchasing an additional 51,326 shares in the last quarter. 89.87% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Scott R. Lewis sold 2,319 shares of The Hartford stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $53.87, for a total transaction of $124,924.53. Following the transaction, the senior vice president now directly owns 16,187 shares of the company’s stock, valued at approximately $871,993.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David C. Robinson sold 868 shares of The Hartford stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $51.39, for a total value of $44,606.52. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 5th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The Hartford’s payout ratio is currently 36.50%.
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About The Hartford
The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.
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