The Hartford Financial Services Group (NYSE:HIG) Issues Earnings Results, Misses Estimates By $0.04 EPS

The Hartford Financial Services Group (NYSE:HIG) posted its quarterly earnings results on Thursday. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by ($0.04), Briefing.com reports. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the company posted $1.68 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year.

The Hartford Financial Services Group Price Performance

HIG stock opened at $99.09 on Friday. The company’s 50-day moving average price is $98.45 and its two-hundred day moving average price is $86.07. The firm has a market cap of $29.46 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.41 and a beta of 0.89. 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 Hartford Financial Services Group has a 12 month low of $67.05 and a 12 month high of $103.64.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The Hartford Financial Services Group’s payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Roth Mkm upped their target price on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. raised their price objective on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Morgan Stanley lifted their target price on The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Royal Bank of Canada increased their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, February 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.56.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 8,206 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $95.60, for a total value of $784,493.60. Following the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $2,468,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $95.60, for a total value of $784,493.60. Following the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $2,468,392. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,501 shares of company stock valued at $10,141,126. Company insiders own 1.60% of the company’s stock.

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.