Brokerages Anticipate Hartford Financial Services Group Inc (NYSE:HIG) to Announce $1.30 EPS

Brokerages expect Hartford Financial Services Group Inc (NYSE:HIG) to post earnings per share of $1.30 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Hartford Financial Services Group’s earnings. The highest EPS estimate is $1.45 and the lowest is $1.00. Hartford Financial Services Group posted earnings per share of $0.78 during the same quarter last year, which suggests a positive year-over-year growth rate of 66.7%. The company is expected to announce its next earnings results on Monday, February 3rd.

According to Zacks, analysts expect that Hartford Financial Services Group will report full-year earnings of $5.50 per share for the current fiscal year, with EPS estimates ranging from $5.22 to $5.60. For the next year, analysts anticipate that the firm will post earnings of $5.53 per share, with EPS estimates ranging from $5.36 to $5.85. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Hartford Financial Services Group.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a return on equity of 12.69% and a net margin of 8.66%. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the company posted $1.15 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year.

HIG has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Hartford Financial Services Group from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Zacks Investment Research upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Thursday, November 7th. MKM Partners boosted their target price on Hartford Financial Services Group to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Co restated a “hold” rating and issued a $58.00 target price on shares of Hartford Financial Services Group in a report on Monday, November 4th. Finally, Evercore ISI raised shares of Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.75.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 6,978 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $60.04, for a total value of $418,959.12. Following the completion of the transaction, the executive vice president now directly owns 22,040 shares in the company, valued at $1,323,281.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Swift sold 24,279 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $60.32, for a total transaction of $1,464,509.28. Following the sale, the chief executive officer now directly owns 211,218 shares of the company’s stock, valued at $12,740,669.76. The disclosure for this sale can be found here. Insiders have sold a total of 112,071 shares of company stock worth $6,807,896 in the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of Hartford Financial Services Group in the 3rd quarter worth $25,000. Virtus ETF Advisers LLC acquired a new stake in Hartford Financial Services Group in the 2nd quarter worth about $26,000. Rational Advisors LLC increased its stake in Hartford Financial Services Group by 950.0% during the 2nd quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after buying an additional 456 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Hartford Financial Services Group during the 3rd quarter worth approximately $28,000. Finally, KCS Wealth Advisory purchased a new stake in Hartford Financial Services Group during the 3rd quarter worth approximately $32,000. 90.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hartford Financial Services Group stock traded up $0.55 on Wednesday, hitting $60.85. 56,323 shares of the company traded hands, compared to its average volume of 1,982,580. Hartford Financial Services Group has a 52 week low of $40.54 and a 52 week high of $62.75. The business has a 50-day simple moving average of $59.97 and a 200 day simple moving average of $57.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $22.30 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.18 and a beta of 0.64.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.97%. Hartford Financial Services Group’s dividend payout ratio is currently 27.71%.

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. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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

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