The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2023 earnings estimates for shares of The Hartford Financial Services Group in a research note issued to investors on Monday, April 10th. Jefferies Financial Group analyst Y. Kinar now anticipates that the insurance provider will post earnings per share of $2.02 for the quarter, down from their prior estimate of $2.03. The consensus estimate for The Hartford Financial Services Group’s current full-year earnings is $8.24 per share. Jefferies Financial Group also issued estimates for The Hartford Financial Services Group’s Q4 2023 earnings at $2.52 EPS.
Other research analysts also recently issued research reports about the company. The Goldman Sachs Group raised The Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, March 29th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, March 31st. Roth Capital restated a “neutral” rating on shares of The Hartford Financial Services Group in a research note on Friday, February 3rd. Wells Fargo & Company upped their price objective on The Hartford Financial Services Group from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, April 5th. Finally, Royal Bank of Canada increased their price objective on The Hartford Financial Services Group from $75.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Monday, February 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.
The Hartford Financial Services Group Stock Performance
Shares of HIG opened at $70.84 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. The stock has a 50 day moving average price of $72.76 and a 200 day moving average price of $72.68. The Hartford Financial Services Group has a 52-week low of $60.17 and a 52-week high of $79.44.
The Hartford Financial Services Group (NYSE:HIG – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.45. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.74 billion. The Hartford Financial Services Group had a net margin of 8.12% and a return on equity of 18.15%. The Hartford Financial Services Group’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 EPS.
The Hartford Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 4th. Investors of record on Monday, March 6th were paid a dividend of $0.425 per share. The ex-dividend date was Friday, March 3rd. This represents a $1.70 annualized dividend and a dividend yield of 2.40%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 31.19%.
Insider Buying and Selling
In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 3,920 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $77.41, for a total transaction of $303,447.20. Following the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $1,998,726.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Robert W. Paiano sold 14,542 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $77.38, for a total value of $1,125,259.96. Following the sale, the executive vice president now directly owns 46,629 shares of the company’s stock, valued at approximately $3,608,152.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Adin M. Tooker sold 3,920 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $77.41, for a total transaction of $303,447.20. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $1,998,726.20. The disclosure for this sale can be found here. Insiders sold a total of 96,587 shares of company stock worth $7,524,178 in the last 90 days. 1.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On The Hartford Financial Services Group
Several institutional investors and hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $29,000. Gradient Investments LLC acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $27,000. Janiczek Wealth Management LLC lifted its holdings in The Hartford Financial Services Group by 38.4% during the 3rd quarter. Janiczek Wealth Management LLC now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 163 shares during the last quarter. Heritage Wealth Management LLC raised its holdings in The Hartford Financial Services Group by 114.5% in the 4th quarter. Heritage Wealth Management LLC now owns 680 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 363 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.
The Hartford Financial Services Group Company Profile
The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.
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