Jefferies Financial Group comments on The Hartford Financial Services Group, Inc.’s earnings for fiscal 2021 (NYSE: HIG)


The Hartford Financial Services Group, Inc. (NYSE: HIG) – Jefferies Financial Group raised its earnings per share estimate for fiscal 2021 for The Hartford Financial Services Group in a notice to investors on Thursday, January 6. Jefferies Financial Group analyst Y. Kinar now predicts the insurance provider will post earnings per share of $ 5.75 for the year, up from its previous estimate of $ 5.50. Jefferies Financial Group currently has a “Hold” rating and a target price of $ 81.00 for the stock. Jefferies Financial Group also released estimates for The Hartford Financial Services Group first quarter 2022 profit at $ 1.53 EPS, Q2 2022 profit at $ 1.61 EPS, Q3 2022 profit at $ 1.63 EPS, Q4 2022 earnings at $ 1.87 EPS, FY2022 earnings at $ 6.65 EPS, and FY2023 earnings at $ 7.85. EPS. The Hartford Financial Services Group (NYSE: HIG) last published its quarterly results on Thursday, October 28. The insurance provider reported earnings per share (EPS) of $ 1.26 for the quarter, beating Thomson Reuters consensus estimate of $ 0.86 by $ 0.40. The Hartford Financial Services Group had a net margin of 9.92% and a return on equity of 11.95%. The company posted revenue of $ 5.69 billion for the quarter, compared to $ 5.25 billion according to analysts’ estimates. During the same period of the previous year, the company posted earnings per share of $ 1.46. The company’s quarterly revenue increased 10.0% compared to the same quarter last year.

HIG has been the subject of several other reports. Barclays raised its target price on Hartford Financial Services Group shares from $ 76.00 to $ 85 and rated the stock “overweight” in a report released on Monday, November 1. Wells Fargo & Company raised its price target on The Hartford Financial Services Group from $ 83.00 to $ 85 and rated the company “overweight” in a report released Tuesday. The Goldman Sachs group assumed the coverage of shares in the Hartford financial services group in a research report released on Monday, November 22. They set a “buy” rating and a price target of $ 84.00 for the stock. Credit Suisse Group raised its price target for The Hartford Financial Services Group shares from $ 82.00 to $ 93.00 and gave the stock an “outperformance” rating in a research report released on Thursday. September 9. Finally, JPMorgan Chase & Co. reduced its price target on The Hartford Financial Services Group from $ 79.00 to $ 76.00 in a research report released Thursday. Five investment analysts gave the stock a conservation rating and eight gave the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $ 77.33.

(A d)

As of December 13, 2021, Bitcoin was over $ 40,000. In fact, some experts believe that Bitcoin could replace gold in the future.
But most people aren’t even aware of these 5 stocks in the crypto space …

NYSE: HIG opened at $ 71.50 on Friday. The Hartford Financial Services Group has a one-year low of $ 47.47 and a one-year high of $ 78.17. The company has a market cap of $ 24.34 billion, a P / E ratio of 11.90, a P / E / G ratio of 1.73 and a beta of 1.07. The company’s fifty-day moving average price is $ 69.76 and its two hundred-day moving average price is $ 68.03. The company has a debt to equity ratio of 0.28, a current ratio of 0.31, and a rapid ratio of 0.31.

A number of large investors have recently changed their holdings to HIG. Vanguard Group Inc. increased its stake in The Hartford Financial Services Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 39,309,219 shares of the insurance provider valued at $ 2,435,993,000 after acquiring an additional 178,794 shares in the last quarter. BlackRock Inc. increased its stake in The Hartford Financial Services Group by 6.9% in the second quarter. BlackRock Inc. now owns 27,397,323 shares of the insurance provider valued at $ 1,697,811,000 after acquiring an additional 1,773,117 shares in the last quarter. State Street Corp increased its stake in The Hartford Financial Services Group by 0.6% in the 2nd quarter. State Street Corp now owns 20,706,030 shares of the insurance provider valued at $ 1,290,303,000 after acquiring an additional 113,577 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in The Hartford Financial Services Group by 7.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 15,364,665 shares of the insurance provider valued at $ 952,148,000 after acquiring an additional 1,101,714 shares during the last quarter. Finally, FMR LLC increased its stake in The Hartford Financial Services Group shares by 36.2% during the second quarter. FMR LLC now owns 14,307,410 shares of the insurance provider valued at $ 886,630,000 after purchasing an additional 3,802,775 shares during the last quarter. Institutional investors hold 90.86% of the company’s shares.

In other news, Chairman Douglas G. Elliot sold 83,733 shares of the company in a transaction dated Tuesday, Jan. 4. The shares were sold at an average price of $ 70.68, for a total trade of $ 5,918,248.44. The sale was disclosed in a legal file with the SEC, which is available through this link. Additionally, Executive Vice President Jonathan R. Bennett sold 20,593 shares of the company in a transaction dated Friday, October 29. The shares were sold at an average price of $ 75.00, for a total trade of $ 1,544,475.00. Disclosure of this sale can be found here. 1.55% of the capital is held by insiders.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 4. Investors of record on Wednesday, December 1 received a dividend of $ 0.385. The ex-dividend date was Tuesday, November 30. This represents an annualized dividend of $ 1.54 and a return of 2.15%. This is an increase from the previous quarterly dividend of $ 0.35 from the Hartford Financial Services Group. Hartford Financial Services Group’s dividend payout ratio is currently 25.62%.

About the Hartford Financial Services Group

The Hartford Financial Services Group, Inc. is an insurance and financial services company. The company offers life insurance, group and employee benefits, auto and home insurance, and business insurance, as well as investment products, annuities, mutual funds and education savings plans. It operates in the following segments: commercial lines insurance, personal lines insurance, property and casualty insurance, other activities, group benefits and Hartford funds.

Further Reading: What Is Considered To Be A Good Return On Equity (ROE)?

Historical and earnings estimates for The Hartford Financial Services Group (NYSE: HIG)

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should You Invest $ 1,000 In The Hartford Financial Services Group Now?

Before you consider The Hartford Financial Services Group, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and The Hartford Financial Services Group was not on the list.

While The Hartford Financial Services Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bids.

See the 5 actions here

About Scott Conley

Check Also

CMB YUNCHUANG: ‘Scripted industry-finance connection

Shenzhen, China, Aug. 11, 2022 (GLOBE NEWSWIRE) — The book Bank 4.0 written by famed …