The Hartford Financial Services Group (HIG) Scheduled to Post Earnings on Thursday

The Hartford Financial Services Group (NYSE:HIG) is scheduled to release its earnings data after the market closes on Thursday, October 24th. Analysts expect The Hartford Financial Services Group to post earnings of $2.46 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect The Hartford Financial Services Group to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $120.94 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The Hartford Financial Services Group has a 12 month low of $68.92 and a 12 month high of $123.23. The stock has a 50 day moving average of $115.62 and a 200 day moving average of $106.50. The firm has a market cap of $35.77 billion, a PE ratio of 13.74, a PEG ratio of 0.96 and a beta of 0.93.

The Hartford Financial Services Group declared that its board has authorized a share repurchase plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HIG shares. JPMorgan Chase & Co. upped their price target on shares of The Hartford Financial Services Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Piper Sandler boosted their price objective on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Citigroup downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Finally, Jefferies Financial Group lifted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $120.59.

The Hartford Financial Services Group Company Profile

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.