Hartford Financial Services Group Inc Expected to Earn FY2018 Earnings of $4.08 Per Share (HIG)

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Hartford Financial Services Group Inc (NYSE:HIG) – Analysts at B. Riley dropped their FY2018 EPS estimates for Hartford Financial Services Group in a research report issued to clients and investors on Tuesday, January 8th. B. Riley analyst R. Binner now forecasts that the insurance provider will post earnings per share of $4.08 for the year, down from their prior estimate of $4.70. B. Riley has a “Buy” rating and a $60.00 price objective on the stock. B. Riley also issued estimates for Hartford Financial Services Group’s Q4 2018 earnings at $0.54 EPS.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. Hartford Financial Services Group had a negative net margin of 11.09% and a positive return on equity of 12.20%. The business had revenue of $4.80 billion during the quarter.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Co reduced their target price on shares of Hartford Financial Services Group from $58.00 to $56.00 and set a “market perform” rating for the company in a research note on Tuesday, October 9th. Bank of America upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 9th. They noted that the move was a valuation call. Credit Suisse Group set a $56.00 target price on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Tuesday, October 9th. Barclays reduced their target price on shares of Hartford Financial Services Group from $64.00 to $59.00 and set an “overweight” rating for the company in a research note on Monday, November 12th. Finally, Morgan Stanley reduced their target price on shares of Hartford Financial Services Group from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.83.

NYSE HIG opened at $44.22 on Thursday. Hartford Financial Services Group has a 52-week low of $40.54 and a 52-week 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 stock has a market cap of $15.83 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.93 and a beta of 0.77.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd were given a $0.30 dividend. The ex-dividend date was Friday, November 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.71%. Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 43.80%.

In other news, EVP David C. Robinson sold 2,395 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $45.62, for a total value of $109,259.90. Following the completion of the transaction, the executive vice president now directly owns 19,003 shares in the company, valued at $866,916.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julie Richardson acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The stock was purchased at an average price of $41.44 per share, with a total value of $207,200.00. Following the completion of the transaction, the director now directly owns 17,213 shares of the company’s stock, valued at approximately $713,306.72. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its position in shares of Hartford Financial Services Group by 14.5% in the third quarter. IFM Investors Pty Ltd now owns 18,781 shares of the insurance provider’s stock valued at $938,000 after acquiring an additional 2,384 shares during the period. California Public Employees Retirement System lifted its position in Hartford Financial Services Group by 14.2% during the second quarter. California Public Employees Retirement System now owns 1,330,087 shares of the insurance provider’s stock valued at $68,007,000 after purchasing an additional 164,973 shares during the last quarter. Lourd Capital LLC bought a new stake in Hartford Financial Services Group during the third quarter valued at approximately $285,000. National Pension Service lifted its position in Hartford Financial Services Group by 0.4% during the third quarter. National Pension Service now owns 385,837 shares of the insurance provider’s stock valued at $19,276,000 after purchasing an additional 1,360 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in Hartford Financial Services Group by 85.9% during the third quarter. GSA Capital Partners LLP now owns 95,348 shares of the insurance provider’s stock valued at $4,764,000 after purchasing an additional 44,051 shares during the last quarter. Institutional investors own 89.26% of the company’s stock.

Hartford Financial Services Group Company Profile

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.

Read More: Intrinsic Value and Stock Selection

Earnings History and Estimates for Hartford Financial Services Group (NYSE:HIG)

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