B. Riley Equities Analysts Lift Earnings Estimates for Hartford Financial Services Group Inc (HIG)

Hartford Financial Services Group Inc (NYSE:HIG) – Equities research analysts at B. Riley raised their FY2019 EPS estimates for Hartford Financial Services Group in a report issued on Monday, February 11th. B. Riley analyst R. Binner now expects that the insurance provider will earn $5.00 per share for the year, up from their prior forecast of $4.95. B. Riley also issued estimates for Hartford Financial Services Group’s FY2020 earnings at $5.50 EPS.

Other research analysts have also issued research reports about the stock. Langen Mcalenn upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a report on Tuesday, December 4th. ValuEngine upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday. Credit Suisse Group cut their price target on shares of Hartford Financial Services Group from $56.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, December 5th. Wells Fargo & Co set a $53.00 price target on shares of Hartford Financial Services Group and gave the company a “hold” rating in a report on Wednesday, December 5th. Finally, Royal Bank of Canada cut their price target on shares of Hartford Financial Services Group to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Hartford Financial Services Group presently has an average rating of “Buy” and an average price target of $56.92.

NYSE HIG opened at $48.24 on Tuesday. Hartford Financial Services Group has a one year low of $40.54 and a one year high of $56.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 0.32. The company has a market capitalization of $17.18 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.72.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Monday, February 4th. The insurance provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. Hartford Financial Services Group had a net margin of 9.53% and a return on equity of 12.31%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter last year, the firm posted $0.81 earnings per share. Hartford Financial Services Group’s revenue for the quarter was up 1.0% compared to the same quarter last year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Hartford Financial Services Group by 26.3% during the third quarter. Morgan Stanley now owns 1,194,962 shares of the insurance provider’s stock valued at $59,700,000 after purchasing an additional 249,118 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Hartford Financial Services Group by 8.8% during the third quarter. The Manufacturers Life Insurance Company now owns 364,682 shares of the insurance provider’s stock valued at $18,219,000 after purchasing an additional 29,350 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Hartford Financial Services Group by 14.5% during the third quarter. IFM Investors Pty Ltd now owns 18,781 shares of the insurance provider’s stock valued at $938,000 after purchasing an additional 2,384 shares during the period. GSA Capital Partners LLP raised its stake in shares of 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 period. Finally, National Pension Service raised its stake in shares of 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 period. Institutional investors own 90.52% of the company’s stock.

In other news, CEO Christopher Swift acquired 11,423 shares of the company’s stock in a transaction dated Thursday, January 10th. The shares were bought at an average price of $43.73 per share, for a total transaction of $499,527.79. Following the completion of the purchase, the chief executive officer now directly owns 135,389 shares of the company’s stock, valued at approximately $5,920,560.97. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Julie Richardson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, December 11th. The shares were purchased at an average price of $41.44 per share, for a total transaction of $207,200.00. Following the purchase, the director now directly owns 17,213 shares of the company’s stock, valued at $713,306.72. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Hartford Financial Services Group announced that its board has initiated a share repurchase plan on Monday, February 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.

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

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