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

The Hartford Financial Services Group (NYSE:HIG) released its quarterly earnings results on Thursday. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09), Briefing.com reports. The Hartford Financial Services Group had a return on equity of 21.04% and a net margin of 10.87%. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the business earned $1.68 earnings per share. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% on a year-over-year basis.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $95.30 on Friday. The Hartford Financial Services Group has a fifty-two week low of $67.05 and a fifty-two week high of $103.64. The firm’s 50-day simple moving average is $98.50 and its 200 day simple moving average is $86.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The stock has a market cap of $28.33 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.40 and a beta of 0.89.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Insider Activity at The Hartford Financial Services Group

In related news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the sale, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,600,105.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the sale, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock worth $10,141,126 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. Keefe, Bruyette & Woods raised 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. UBS Group raised their target price on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Raymond James reissued an “outperform” rating and issued a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Evercore ISI raised their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Piper Sandler reissued an “overweight” rating and issued a $115.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $105.81.

The Hartford Financial Services Group Company Profile

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.