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

The Hartford Financial Services Group (NYSE:HIG) released its quarterly earnings data on Thursday. The insurance provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26, Briefing.com reports. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $1.88 EPS. The Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded up $0.36 during trading hours on Thursday, hitting $102.30. 1,381,982 shares of the stock traded hands, compared to its average volume of 1,661,688. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group has a 1 year low of $68.82 and a 1 year high of $106.93. The company has a market cap of $30.26 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93. The stock has a 50 day moving average price of $101.42 and a 200 day moving average price of $97.19.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the transaction, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Insiders have sold 94,499 shares of company stock valued at $9,449,309 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on HIG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $105.00 price target on shares of The Hartford Financial Services Group in a research note on Friday, June 28th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. The Goldman Sachs Group lifted their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Roth Mkm lifted their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.50.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.