The Hartford Financial Services Group (NYSE:HIG) Issues Earnings Results, Misses Expectations By $0.04 EPS

The Hartford Financial Services Group (NYSE:HIG) announced its quarterly earnings results on Thursday. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.04), Briefing.com reports. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the company earned $1.68 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis.

The Hartford Financial Services Group Trading 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 company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50-day moving average of $98.45 and a 200 day moving average of $86.07. The stock has a market cap of $29.46 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is presently 23.53%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HIG. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Morgan Stanley upped their target price on The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, TD Cowen raised their price target on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.56.

Insiders Place Their Bets

In other news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Allison G. Niderno sold 1,516 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $94.55, for a total value of $143,337.80. Following the transaction, the senior vice president now owns 630 shares in the company, valued at approximately $59,566.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the sale, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. 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. 1.60% of the stock is currently owned by company insiders.

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.