The Hartford Financial Services Group, Inc. (NYSE:HIG) Declares Quarterly Dividend of $0.52

The Hartford Financial Services Group, Inc. (NYSE:HIG) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 0.52 per share by the insurance provider on Wednesday, July 2nd. This represents a $2.08 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 2nd.

The Hartford Financial Services Group has increased its dividend by an average of 10.4% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. The Hartford Financial Services Group has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect The Hartford Financial Services Group to earn $12.67 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 16.4%.

The Hartford Financial Services Group Trading Down 0.5%

NYSE:HIG opened at $129.00 on Friday. The company has a 50-day moving average price of $121.65 and a 200-day moving average price of $116.78. The Hartford Financial Services Group has a 12 month low of $98.16 and a 12 month high of $132.09. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $36.65 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.97 billion. During the same period last year, the company posted $2.34 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that The Hartford Financial Services Group will post 11.11 EPS for the current year.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,429 shares of company stock worth $13,618,028. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Hartford Financial Services Group

A hedge fund recently bought a new stake in The Hartford Financial Services Group stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,670 shares of the insurance provider’s stock, valued at approximately $207,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Morgan Stanley lifted their price target on shares of The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.71.

About The Hartford Financial Services Group

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.