B. Riley Weighs in on Hartford Financial Services Group Inc’s FY2018 Earnings (HIG)

Hartford Financial Services Group Inc (NYSE:HIG) – Analysts at B. Riley dropped their FY2018 earnings per share estimates for shares of Hartford Financial Services Group in a research note issued to investors on Thursday, according to Zacks Investment Research. B. Riley analyst R. Binner now expects that the insurance provider will post earnings per share of $4.20 for the year, down from their prior forecast of $4.50. B. Riley currently has a “Neutral” rating on the stock.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Monday, October 23rd. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. Hartford Financial Services Group had a net margin of 2.63% and a return on equity of 8.21%. The firm had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Hartford Financial Services Group’s quarterly revenue was down .7% on a year-over-year basis.

A number of other brokerages have also issued reports on HIG. Goldman Sachs Group assumed coverage on shares of Hartford Financial Services Group in a report on Monday, December 4th. They issued a “neutral” rating and a $59.00 price objective for the company. UBS Group increased their target price on shares of Hartford Financial Services Group from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Wells Fargo & Co set a $55.00 target price on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Thursday, November 16th. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, September 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $60.00 target price on shares of Hartford Financial Services Group in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.92.

Shares of Hartford Financial Services Group (NYSE HIG) traded up $0.05 on Friday, hitting $55.09. 1,374,000 shares of the company were exchanged, compared to its average volume of 1,836,475. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.40 and a quick ratio of 0.40. Hartford Financial Services Group has a 12-month low of $46.35 and a 12-month high of $58.61. The stock has a market capitalization of $19,690.00, a price-to-earnings ratio of 42.05, a P/E/G ratio of 1.39 and a beta of 0.99.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sun Life Financial INC boosted its stake in shares of Hartford Financial Services Group by 26,810.0% in the second quarter. Sun Life Financial INC now owns 2,691 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 2,681 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Hartford Financial Services Group in the second quarter valued at approximately $148,000. Wesbanco Bank Inc. purchased a new position in shares of Hartford Financial Services Group in the third quarter valued at approximately $206,000. Bahl & Gaynor Inc. purchased a new position in shares of Hartford Financial Services Group in the second quarter valued at approximately $207,000. Finally, Tdam USA Inc. purchased a new position in shares of Hartford Financial Services Group in the third quarter valued at approximately $208,000. 88.52% of the stock is owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were paid a $0.25 dividend. This is a positive change from Hartford Financial Services Group’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 76.34%.

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