Hartford Financial Services Group, Inc. (The) (NYSE:HIG) Issues Earnings Results, Beats Estimates By $0.10 EPS

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) posted its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10, Bloomberg Earnings reports. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.30 billion. Hartford Financial Services Group, Inc. (The) had a return on equity of 9.13% and a net margin of 3.73%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share.

Shares of Hartford Financial Services Group, Inc. (NYSE:HIG) opened at 56.51 on Thursday. Hartford Financial Services Group, Inc. has a 52-week low of $39.68 and a 52-week high of $57.16. The stock’s 50 day moving average is $54.27 and its 200-day moving average is $50.32. The firm has a market capitalization of $20.59 billion, a P/E ratio of 31.02 and a beta of 0.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Wednesday, August 30th. Hartford Financial Services Group, Inc. (The)’s dividend payout ratio is presently 51.40%.

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Several research analysts recently weighed in on HIG shares. BidaskClub lowered Hartford Financial Services Group, Inc. (The) from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price objective on shares of Hartford Financial Services Group, Inc. (The) in a research note on Wednesday, June 28th. Zacks Investment Research upgraded Hartford Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Wednesday, June 28th. UBS AG reiterated a “buy” rating and issued a $58.00 price objective (up from $54.00) on shares of Hartford Financial Services Group, Inc. (The) in a research note on Monday, June 26th. Finally, Deutsche Bank AG began coverage on Hartford Financial Services Group, Inc. (The) in a research note on Tuesday, June 6th. They issued a “buy” rating and a $60.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $56.30.

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Hartford Financial Services Group, Inc. (The) by 5,984.5% in the second quarter. Janus Henderson Group PLC now owns 3,181,908 shares of the insurance provider’s stock worth $167,272,000 after buying an additional 3,129,613 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Hartford Financial Services Group, Inc. (The) by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 30,070,898 shares of the insurance provider’s stock worth $1,580,827,000 after buying an additional 2,730,796 shares during the last quarter. FMR LLC increased its stake in shares of Hartford Financial Services Group, Inc. (The) by 22.2% in the second quarter. FMR LLC now owns 7,079,010 shares of the insurance provider’s stock worth $372,144,000 after buying an additional 1,284,664 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Hartford Financial Services Group, Inc. (The) by 3.3% in the first quarter. Vanguard Group Inc. now owns 36,359,323 shares of the insurance provider’s stock worth $1,747,791,000 after buying an additional 1,177,520 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Hartford Financial Services Group, Inc. (The) by 21.8% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,140,185 shares of the insurance provider’s stock worth $295,159,000 after buying an additional 1,098,003 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Hartford Financial Services Group, Inc. (The)

Earnings History for Hartford Financial Services Group, Inc. (The) (NYSE:HIG)

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