Langen Mcalenn Analysts Cut Earnings Estimates for Hartford Financial Services Group Inc (HIG)

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Hartford Financial Services Group Inc (NYSE:HIG) – Langen Mcalenn decreased their Q1 2019 earnings estimates for Hartford Financial Services Group in a research note issued to investors on Thursday, October 25th. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will earn $1.28 per share for the quarter, down from their previous forecast of $1.30. Langen Mcalenn also issued estimates for Hartford Financial Services Group’s Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.15 EPS, Q4 2019 earnings at $1.38 EPS and FY2019 earnings at $4.95 EPS.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11. Hartford Financial Services Group had a positive return on equity of 12.20% and a negative net margin of 11.09%. The company had revenue of $4.80 billion for the quarter.

Several other analysts have also weighed in on the company. Buckingham Research set a $58.00 price target on Hartford Financial Services Group and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada reduced their target price on Hartford Financial Services Group to $58.00 and set an “outperform” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Wells Fargo & Co set a $56.00 price target on Hartford Financial Services Group and gave the company a “hold” rating in a research note on Friday, October 26th. Credit Suisse Group set a $56.00 price target on Hartford Financial Services Group and gave the company a “hold” rating in a research note on Tuesday, October 9th. Finally, Bank of America upgraded Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, October 9th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Hartford Financial Services Group currently has an average rating of “Hold” and an average price target of $58.17.

NYSE:HIG opened at $45.14 on Monday. Hartford Financial Services Group has a fifty-two week low of $43.31 and a fifty-two week high of $59.20. The firm has a market cap of $16.18 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, November 30th. Hartford Financial Services Group’s payout ratio is currently 43.80%.

A number of hedge funds have recently modified their holdings of HIG. Migdal Insurance & Financial Holdings Ltd. boosted its position in Hartford Financial Services Group by 8,566.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 2,056 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Hartford Financial Services Group during the second quarter valued at about $133,000. Hartford Financial Management Inc. bought a new stake in Hartford Financial Services Group during the second quarter valued at about $143,000. BTIM Corp. bought a new stake in Hartford Financial Services Group during the second quarter valued at about $211,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Hartford Financial Services Group during the second quarter valued at about $215,000. 89.54% of the stock is currently owned by institutional investors.

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. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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Earnings History and Estimates for Hartford Financial Services Group (NYSE:HIG)

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