The Hartford Financial Services Group (HIG) Set to Announce Earnings on Thursday

The Hartford Financial Services Group (NYSE:HIG) will be releasing 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. Persons interested in registering for the company’s earnings conference call can do so using this link.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly 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 business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. 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 HIG opened at $120.08 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $35.51 billion, a P/E ratio of 13.65, a PEG ratio of 0.96 and a beta of 0.93. 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 fifty day moving average price of $115.86 and a 200 day moving average price of $106.62.

The Hartford Financial Services Group declared that its board has approved a stock repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HIG shares. Bank of America boosted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Piper Sandler increased their price target 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. Finally, Citigroup cut shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.