The Hartford Financial Services Group (NYSE:HIG) Posts Earnings Results, Beats Expectations By $0.26 EPS

The Hartford Financial Services Group (NYSE:HIG) released its quarterly earnings results on Thursday. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26, Briefing.com reports. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS.

The Hartford Financial Services Group Stock Up 0.4 %

Shares of The Hartford Financial Services Group stock traded up $0.36 during trading hours on Thursday, hitting $102.30. The company had a trading volume of 1,381,982 shares, compared to its average volume of 1,661,688. The company’s 50-day moving average is $101.42 and its two-hundred day moving average is $97.15. The Hartford Financial Services Group has a twelve month low of $68.82 and a twelve month high of $106.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $30.26 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

Insider Activity

In other news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the transaction, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,499 shares of company stock worth $9,449,309. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HIG. Morgan Stanley reduced their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. TD Cowen upped their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Raymond James reaffirmed an “outperform” rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.