Hartford Financial Services Group Inc (HIG) Expected to Announce Earnings of $1.24 Per Share

Wall Street brokerages forecast that Hartford Financial Services Group Inc (NYSE:HIG) will post earnings per share of $1.24 for the current quarter, Zacks reports. Zero analysts have issued estimates for Hartford Financial Services Group’s earnings, with estimates ranging from $1.19 to $1.28. Hartford Financial Services Group posted earnings of $1.27 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, May 1st.

According to Zacks, analysts expect that Hartford Financial Services Group will report full year earnings of $4.98 per share for the current fiscal year, with EPS estimates ranging from $4.88 to $5.10. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.37 per share, with EPS estimates ranging from $5.15 to $5.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Hartford Financial Services Group.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, February 4th. The insurance provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. Hartford Financial Services Group had a return on equity of 12.31% and a net margin of 9.53%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year.

A number of brokerages have commented on HIG. Barclays boosted their target price on Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. ValuEngine upgraded Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. TheStreet upgraded Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Finally, Compass Point began coverage on Hartford Financial Services Group in a research note on Tuesday, January 15th. They issued a “buy” rating and a $58.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $56.77.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 2,392 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $46.35, for a total value of $110,869.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the executive vice president now directly owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in HIG. Louisiana State Employees Retirement System lifted its position in shares of Hartford Financial Services Group by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the insurance provider’s stock worth $945,000 after purchasing an additional 200 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Hartford Financial Services Group by 11.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,140 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 224 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Hartford Financial Services Group by 20.0% during the 4th quarter. Parallel Advisors LLC now owns 1,553 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 259 shares during the last quarter. Shelton Capital Management lifted its position in shares of Hartford Financial Services Group by 7.1% during the 4th quarter. Shelton Capital Management now owns 4,522 shares of the insurance provider’s stock worth $201,000 after purchasing an additional 300 shares during the last quarter. Finally, Riverview Trust Co lifted its position in shares of Hartford Financial Services Group by 55.8% during the 1st quarter. Riverview Trust Co now owns 849 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 304 shares during the last quarter. 91.56% of the stock is owned by institutional investors.

Shares of NYSE HIG opened at $50.94 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.33. Hartford Financial Services Group has a one year low of $40.54 and a one year high of $55.16. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.07 and a beta of 0.72.

Hartford Financial Services Group announced that its Board of Directors has authorized a share repurchase program on Monday, February 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.36%. 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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