Hartford Financial Services Group (HIG) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Hartford Financial Services Group (NYSE:HIG) issued its earnings results on Thursday. The insurance provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11, Fidelity Earnings reports. The business had revenue of $4.80 billion for the quarter. Hartford Financial Services Group had a negative net margin of 12.24% and a positive return on equity of 9.84%.

HIG stock traded down $0.23 during trading on Friday, reaching $45.31. 3,697,340 shares of the company were exchanged, compared to its average volume of 2,273,705. The company has a market cap of $16.47 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.03 and a beta of 0.93. Hartford Financial Services Group has a 52-week low of $44.81 and a 52-week high of $59.20. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Friday, November 30th. Hartford Financial Services Group’s dividend payout ratio is currently 43.80%.



Several analysts have recently weighed in on the stock. B. Riley lifted their target price on shares of Hartford Financial Services Group from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Credit Suisse Group assumed coverage on shares of Hartford Financial Services Group in a report on Tuesday, August 7th. They issued a “neutral” rating and a $57.00 target price on the stock. Zacks Investment Research downgraded shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, TheStreet raised shares of Hartford Financial Services Group from a “c” rating to a “b” rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.20.

In related news, EVP David C. Robinson sold 2,395 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total transaction of $126,647.60. Following the sale, the executive vice president now owns 21,398 shares of the company’s stock, valued at $1,131,526.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Beth Ann Bombara sold 23,906 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $52.63, for a total transaction of $1,258,172.78. Following the sale, the chief financial officer now directly owns 52,291 shares in the company, valued at approximately $2,752,075.33. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

About Hartford Financial Services Group

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.

Further Reading: What is the Ex-Dividend Date in Investing?

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

Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply