Analysts Expect Hartford Financial Services Group Inc (HIG) to Post $0.84 EPS

Wall Street analysts forecast that Hartford Financial Services Group Inc (NYSE:HIG) will report $0.84 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Hartford Financial Services Group’s earnings. The lowest EPS estimate is $0.54 and the highest is $1.20. Hartford Financial Services Group posted earnings of $0.81 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Hartford Financial Services Group will report full-year earnings of $4.44 per share for the current financial year, with EPS estimates ranging from $4.08 to $4.75. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.01 per share, with EPS estimates ranging from $4.85 to $5.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Hartford Financial Services Group.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, October 25th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.11. The company had revenue of $4.80 billion during the quarter. Hartford Financial Services Group had a positive return on equity of 12.20% and a negative net margin of 11.09%.

HIG has been the subject of several analyst reports. Wells Fargo & Co dropped their target price on Hartford Financial Services Group from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Tuesday, October 9th. Bank of America upgraded Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, October 9th. They noted that the move was a valuation call. Sandler O’Neill initiated coverage on Hartford Financial Services Group in a report on Monday, September 10th. They issued a “buy” rating and a $60.00 price objective for the company. Credit Suisse Group set a $56.00 price objective on Hartford Financial Services Group and gave the stock a “hold” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research cut Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $57.00.

HIG stock traded down $0.72 during trading on Monday, hitting $41.63. 3,030,640 shares of the company traded hands, compared to its average volume of 2,572,480. The stock has a market capitalization of $15.19 billion, a PE ratio of 15.19, a P/E/G ratio of 0.98 and a beta of 0.92. Hartford Financial Services Group has a 1 year low of $41.13 and a 1 year high of $59.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, November 30th. Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 43.80%.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 2,395 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $45.62, for a total value of $109,259.90. Following the completion of the sale, the executive vice president now owns 19,003 shares in the company, valued at approximately $866,916.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Hartford Financial Services Group by 8,566.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 2,056 shares in the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in Hartford Financial Services Group during the 3rd quarter valued at approximately $125,000. Hartford Financial Management Inc. bought a new position in Hartford Financial Services Group during the 2nd quarter valued at approximately $143,000. Piedmont Investment Advisors LLC bought a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth $215,000. Finally, Dupont Capital Management Corp increased its holdings in shares of Hartford Financial Services Group by 52.2% in the 2nd quarter. Dupont Capital Management Corp now owns 4,200 shares of the insurance provider’s stock worth $215,000 after purchasing an additional 1,441 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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