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

The Hartford Financial Services Group, Inc. (NYSE:HIG) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors 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 1.60%.

The Hartford Financial Services Group has increased its dividend by an average of 10.4% annually 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. Equities 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 Stock Performance

The Hartford Financial Services Group stock opened at $129.66 on Thursday. The company has a market capitalization of $36.84 billion, a PE ratio of 12.53, a P/E/G ratio of 1.12 and a beta of 0.70. The Hartford Financial Services Group has a twelve month low of $98.16 and a twelve month high of $132.09. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $121.48 and a two-hundred day simple moving average of $116.66.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Raymond James increased their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Wells Fargo & Company lowered their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. UBS Group boosted their price target on The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a report on Monday, April 28th. Finally, Jefferies Financial Group decreased their price objective on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.71.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,429 shares of company stock worth $13,618,028. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of 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 purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,670 shares of the insurance provider’s stock, valued at approximately $207,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

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.