Brokerages Anticipate Hartford Financial Services Group Inc (HIG) Will Post Earnings of $1.12 Per Share

Wall Street analysts expect Hartford Financial Services Group Inc (NYSE:HIG) to post $1.12 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Hartford Financial Services Group’s earnings, with estimates ranging from $1.05 to $1.21. 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 86.7%. The company is scheduled to report its next earnings results on Monday, October 22nd.

According to Zacks, analysts expect that Hartford Financial Services Group will report full year earnings of $4.76 per share for the current year, with EPS estimates ranging from $4.65 to $4.90. For the next financial year, analysts forecast that the company will post earnings of $5.03 per share, with EPS estimates ranging from $4.88 to $5.20. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Hartford Financial Services Group.

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

HIG has been the subject of several recent research reports. Zacks Investment Research lowered Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Evercore ISI initiated coverage on Hartford Financial Services Group in a research report on Thursday, June 7th. They set an “inline” rating and a $57.00 price objective for the company. ValuEngine lowered Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. B. Riley raised their price objective on Hartford Financial Services Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. Finally, TheStreet raised Hartford Financial Services Group from a “c” rating to a “b” rating in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.45.

In other news, CFO Beth Ann Bombara sold 23,906 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 52,291 shares in the company, valued at $2,752,075.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David C. Robinson sold 2,395 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total value of $126,647.60. Following the transaction, the executive vice president now owns 21,398 shares of the company’s stock, valued at $1,131,526.24. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Hartford Financial Services Group by 1.8% in the 2nd quarter. FMR LLC now owns 10,496,071 shares of the insurance provider’s stock worth $536,664,000 after buying an additional 184,389 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Hartford Financial Services Group by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,495,814 shares of the insurance provider’s stock worth $332,131,000 after buying an additional 257,968 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hartford Financial Services Group by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,208,452 shares of the insurance provider’s stock worth $215,175,000 after buying an additional 327,834 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Hartford Financial Services Group by 1.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,437,172 shares of the insurance provider’s stock worth $73,483,000 after buying an additional 23,325 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Hartford Financial Services Group by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 1,415,309 shares of the insurance provider’s stock worth $72,365,000 after buying an additional 138,526 shares in the last quarter. Institutional investors own 89.46% of the company’s stock.

Hartford Financial Services Group stock traded down $0.08 on Wednesday, hitting $49.76. 38,621 shares of the stock traded hands, compared to its average volume of 2,771,996. 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 firm has a market capitalization of $17.54 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.08 and a beta of 0.94. Hartford Financial Services Group has a 1 year low of $48.79 and a 1 year high of $59.20.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 31st. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.41%. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 43.80%.

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.

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

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