The Hartford Financial Services Group, Inc. (NYSE:HIG) will post earnings of $10.25 per share for fiscal 2024, Roth Capital predicts

The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) – Research analysts at Roth Capital raised their FY2024 earnings estimates for shares of The Hartford Financial Services Group in a research note issued on Friday, July 26th. Analyst H. Fong of Roth Capital now predicts that the insurance provider will post $10.25 EPS for the year, up from their previous forecast of $10.00. The consensus estimate for The Hartford Financial Services Group’s current full year earnings is $9.86 per share. Roth Capital also issued estimates for The Hartford Financial Services Group’s Q4 2024 earnings of $2.88 EPS, Q1 2025 earnings of $2.76 EPS and Q2 2025 earnings of $2.68 EPS.

Hartford Financial Services Group (NYSE:HIG – Get Free Report) last released its earnings results on Thursday, July 25. The insurance provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.52%. The company’s revenue increased by 7.2% compared to the year-ago quarter. In the year-ago quarter, the company earned $1.88 EPS.

Other equities analysts have also recently issued research reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and gave a $105.00 price target on shares of The Hartford Financial Services Group in a research report on Friday, June 28th. Morgan Stanley lowered their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Raymond James reiterated an “outperform” rating and gave a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Evercore ISI raised their price target on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Argus raised their price target on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Eight analysts have rated the stock with a hold rating and ten have rated it with a buy rating. Based on data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $108.94.

View our latest research report on The Hartford Financial Services Group

Price development of the Hartford Financial Services Group

Shares of NYSE:HIG opened Monday at $109.63. The stock has a market cap of $32.42 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.91 and a beta of 0.93. The company’s 50-day moving average is $101.55 and its 200-day moving average is $97.59. Hartford Financial Services Group has a 52-week low of $68.82 and a 52-week high of $109.68. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29.

Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.47. This represents a $1.88 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. Hartford Financial Services Group’s dividend payout ratio (DPR) currently stands at 21.36%.

Hartford Financial Services Group said its Board of Directors approved a stock repurchase plan on Thursday, July 25, authorizing the company to repurchase $3.30 billion of its outstanding shares. This repurchase authorization authorizes the insurance company to purchase up to 10.9% of its shares through open market purchases. Stock repurchase plans are typically an indication that management believes a company’s stock is undervalued.

Insiders place their bets

In other news from The Hartford Financial Services Group, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction dated Monday, July 01. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a filing with the SEC, available on the SEC website. In other news, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction that occurred on Thursday, May 09. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The sale was disclosed in a legal document filed with the SEC, available at this link. Also, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction that occurred on Monday, July 01. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. During the last quarter, insiders have sold 94,499 shares of the company’s stock valued at $9,449,309. 1.60% of the shares are currently held by company insiders.

Institutional inflow and outflow

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Covenant Trust Company NA purchased a new position in shares of The Hartford Financial Services Group during the first quarter worth approximately $26,000. Bank & Trust Co purchased a new position in shares of The Hartford Financial Services Group during the second quarter worth approximately $30,000. Family Firm Inc. purchased a new position in shares of The Hartford Financial Services Group during the second quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $26,000. Finally, Benjamin Edwards Inc. purchased a new position in The Hartford Financial Services Group during the first quarter worth approximately $35,000. Institutional investors own 93.42% of the company’s shares.

Company Profile of The Hartford Financial Services Group

(Get free report)

The Hartford Financial Services Group, Inc., together with its subsidiaries, provides insurance and financial services to personal and business customers in the United States, the United Kingdom and internationally. The Commercial Lines segment offers insurance coverages including workers’ compensation, property, auto, general and professional liability, parcel, umbrella, fidelity and surety, marine, livestock, casualty, health and reinsurance through regional offices, branches, policyholder sales and service centers, independent retail agents and brokers, wholesale agents and reinsurance brokers.

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