Hartford Financial Services Group Inc (NYSE:HIG) declared a quarterly dividend on Monday, February 3rd, RTT News reports. Investors of record on Monday, March 2nd will be paid a dividend of 0.325 per share by the insurance provider on Thursday, April 2nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.30.
Hartford Financial Services Group has raised its dividend payment by an average of 11.4% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Hartford Financial Services Group has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hartford Financial Services Group to earn $5.79 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 22.5%.
Shares of NYSE HIG opened at $54.45 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.29 and a current ratio of 0.29. Hartford Financial Services Group has a 52 week low of $47.50 and a 52 week high of $62.75. The stock has a market capitalization of $19.80 billion, a P/E ratio of 9.64, a PEG ratio of 1.07 and a beta of 0.60. The stock’s fifty day moving average is $59.26 and its 200 day moving average is $59.68.
Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.11. Hartford Financial Services Group had a return on equity of 13.60% and a net margin of 10.05%. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the business earned $0.78 earnings per share. Hartford Financial Services Group’s revenue was up 15.7% on a year-over-year basis. Equities research analysts forecast that Hartford Financial Services Group will post 5.43 earnings per share for the current year.
A number of research analysts recently commented on the company. ValuEngine cut Hartford Financial Services Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Zacks Investment Research upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, January 6th. Wells Fargo & Co began coverage on Hartford Financial Services Group in a research report on Tuesday, February 4th. They issued a “hold” rating and a $65.00 target price on the stock. Royal Bank of Canada cut Hartford Financial Services Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $70.00 to $68.00 in a research report on Thursday, December 5th. Finally, Buckingham Research cut Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Wednesday, January 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Hartford Financial Services Group has an average rating of “Hold” and an average target price of $66.00.
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. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.
Featured Article: What is Forex?
Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.