The Hartford Financial Services Group (NYSE:HIG) Announces Quarterly Earnings Results, Misses Estimates By $0.09 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 $2.43 by ($0.09), Briefing.com reports. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis.

The Hartford Financial Services Group Stock Down 0.8 %

Shares of NYSE HIG opened at $99.09 on Friday. The Hartford Financial Services Group has a 1 year low of $67.05 and a 1 year high of $103.64. The firm has a market capitalization of $29.46 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $98.45 and its 200-day moving average is $86.07.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a $0.47 dividend. 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%.

Insiders Place Their Bets

In related news, EVP David C. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now owns 8,201 shares in the company, valued at approximately $735,137.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David C. Robinson sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the sale, the executive vice president now directly owns 8,201 shares in the company, valued at $735,137.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,501 shares of company stock worth $10,141,126. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Raymond James reissued an “outperform” rating and issued a $120.00 price target (up previously from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. UBS Group increased their target price on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Royal Bank of Canada increased their price objective on The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group boosted their target price on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.56.

About The Hartford Financial Services Group

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.