The Hartford Financial Services Group (NYSE:HIG) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

The Hartford Financial Services Group (NYSE:HIG) announced its 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 business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 21.04%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 earnings per share.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $95.30 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The firm’s 50 day moving average price is $98.50 and its 200-day moving average price is $86.23. The Hartford Financial Services Group has a 52-week low of $67.05 and a 52-week high of $103.64. The company has a market cap of $28.33 billion, a PE ratio of 10.83, a P/E/G ratio of 1.40 and a beta of 0.89.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.97%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Wall Street Analysts Forecast Growth

HIG has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada upped their target price on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, February 5th. Evercore ISI upped their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, TD Cowen increased their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.81.

Insider Activity

In other news, SVP Allison G. Niderno sold 1,332 shares of the 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 transaction, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the sale, the executive vice president now directly owns 46,792 shares in the company, valued at $4,397,044.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was 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 of the company’s stock, valued at approximately $56,536.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,501 shares of company stock worth $10,141,126. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Company Profile

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.