Analysts Expect Hartford Financial Services Group Inc (HIG) to Post $1.04 EPS

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Equities research analysts forecast that Hartford Financial Services Group Inc (NYSE:HIG) will post earnings of $1.04 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Hartford Financial Services Group’s earnings, with estimates ranging from $0.93 to $1.13. Hartford Financial Services Group reported earnings per share of $0.60 in the same quarter last year, which indicates a positive year-over-year growth rate of 73.3%. The company is scheduled to issue its next earnings report after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Hartford Financial Services Group will report full year earnings of $4.70 per share for the current year, with EPS estimates ranging from $4.53 to $4.95. For the next financial year, analysts expect that the firm will report earnings of $5.03 per share, with EPS estimates ranging from $4.90 to $5.20. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Hartford Financial Services Group.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 26th. The insurance provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Hartford Financial Services Group had a negative net margin of 12.24% and a positive return on equity of 9.84%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis.

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

Shares of HIG stock traded up $0.11 during mid-day trading on Tuesday, reaching $46.64. The stock had a trading volume of 2,446,680 shares, compared to its average volume of 2,516,657. Hartford Financial Services Group has a 52-week low of $45.96 and a 52-week high of $59.20. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.04 and a beta of 0.93. 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 announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.20 annualized dividend and a yield of 2.57%. Hartford Financial Services Group’s payout ratio is 43.80%.

In other Hartford Financial Services Group news, CFO Beth Ann Bombara sold 23,906 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total transaction of $1,258,172.78. Following the completion of the transaction, the chief financial officer now owns 52,291 shares in the company, valued at $2,752,075.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David C. Robinson sold 2,395 shares of the stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total transaction of $126,647.60. Following the transaction, the executive vice president now owns 21,398 shares of the company’s stock, valued at approximately $1,131,526.24. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in HIG. Seven Eight Capital LP bought a new stake in shares of Hartford Financial Services Group in the 3rd quarter worth about $4,156,000. Oakbrook Investments LLC lifted its holdings in shares of Hartford Financial Services Group by 35.1% in the 3rd quarter. Oakbrook Investments LLC now owns 36,535 shares of the insurance provider’s stock worth $1,825,000 after acquiring an additional 9,500 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Hartford Financial Services Group by 18.5% in the 3rd quarter. Foundry Partners LLC now owns 231,671 shares of the insurance provider’s stock worth $11,574,000 after acquiring an additional 36,167 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Hartford Financial Services Group by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 134,855 shares of the insurance provider’s stock worth $6,737,000 after acquiring an additional 3,160 shares during the last quarter. Finally, Andra AP fonden lifted its holdings in shares of Hartford Financial Services Group by 13.4% in the 3rd quarter. Andra AP fonden now owns 179,400 shares of the insurance provider’s stock worth $8,963,000 after acquiring an additional 21,200 shares during the last quarter. Institutional investors and hedge funds own 89.49% of the company’s stock.

Hartford Financial Services Group Company Profile

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

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