The Hartford Financial Services Group (HIG) to Release 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 are interested in registering for the company’s conference call can do so using this link.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The company’s revenue for the quarter 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

HIG stock opened at $119.62 on Thursday. 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 Hartford Financial Services Group has a 1 year low of $68.92 and a 1 year high of $120.36. The firm has a 50-day moving average of $114.76 and a 200 day moving average of $106.06. The company has a market cap of $35.38 billion, a P/E ratio of 13.59, a PEG ratio of 0.96 and a beta of 0.93.

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

Analysts Set New Price Targets

Several research firms recently weighed in on HIG. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Royal Bank of Canada lifted 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 research report on Monday, July 29th. Finally, UBS Group lifted their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $120.59.

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.