The Hartford Financial Services Group, Inc. (HIG) to Issue Quarterly Dividend of $0.39 on July 5th

The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) declared a quarterly dividend on Wednesday, May 18th, RTT News reports. Stockholders of record on Wednesday, June 1st will be given a dividend of 0.385 per share by the insurance provider on Tuesday, July 5th. This represents a $1.54 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, May 31st.

The Hartford Financial Services Group has increased its dividend payment by an average of 9.3% per year over the last three years and has raised its dividend every year for the last 2 years. The Hartford Financial Services Group has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The Hartford Financial Services Group to earn $8.13 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 18.9%.

NYSE HIG opened at $72.70 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $23.91 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.49 and a beta of 0.97. The Hartford Financial Services Group has a 12-month low of $59.86 and a 12-month high of $78.17. The firm has a 50-day moving average price of $71.57 and a two-hundred day moving average price of $70.41.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The insurance provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.10. The Hartford Financial Services Group had a net margin of 11.39% and a return on equity of 14.84%. The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts expect that The Hartford Financial Services Group will post 6.95 EPS for the current year.

HIG has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of The Hartford Financial Services Group in a report on Monday, May 23rd. They set a “buy” rating and a $81.00 price target for the company. Barclays upped their price target on shares of The Hartford Financial Services Group from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Morgan Stanley cut their price target on shares of The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Raymond James upped their price target on shares of The Hartford Financial Services Group from $80.00 to $85.00 in a report on Tuesday, May 3rd. Finally, StockNews.com assumed coverage on shares of The Hartford Financial Services Group in a research report on Thursday, March 31st. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $80.31.

In other news, SVP Scott R. Lewis sold 5,000 shares of the stock in a transaction on Monday, April 11th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the senior vice president now directly owns 20,121 shares in the company, valued at $1,509,075. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert W. Paiano sold 8,510 shares of the stock in a transaction on Monday, April 11th. The stock was sold at an average price of $75.00, for a total transaction of $638,250.00. Following the sale, the executive vice president now owns 37,142 shares of the company’s stock, valued at $2,785,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,597 shares of company stock valued at $8,980,210. Corporate insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Toroso Investments LLC boosted its stake in The Hartford Financial Services Group by 3.8% during the first quarter. Toroso Investments LLC now owns 4,293 shares of the insurance provider’s stock worth $308,000 after acquiring an additional 159 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in The Hartford Financial Services Group during the first quarter worth $19,468,000. Walleye Capital LLC boosted its stake in The Hartford Financial Services Group by 331.5% during the first quarter. Walleye Capital LLC now owns 19,760 shares of the insurance provider’s stock worth $1,419,000 after acquiring an additional 15,181 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in The Hartford Financial Services Group by 16.6% during the first quarter. Wealthfront Advisers LLC now owns 35,905 shares of the insurance provider’s stock worth $2,578,000 after acquiring an additional 5,104 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of The Hartford Financial Services Group by 46.9% in the first quarter. Continuum Advisory LLC now owns 11,850 shares of the insurance provider’s stock valued at $829,000 after buying an additional 3,782 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

About The Hartford Financial Services Group (Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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Dividend History for The Hartford Financial Services Group (NYSE:HIG)

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