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

The Hartford Financial Services Group (NYSE:HIG) will be announcing its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $2.46 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

The Hartford Financial Services Group (NYSE:HIG) last posted 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company 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 Stock Up 0.9 %

HIG 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 one year low of $68.92 and a one year high of $120.36. The firm has a market capitalization of $35.38 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a fifty day moving average price of $114.76 and a 200-day moving average price of $106.06.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HIG shares. Morgan Stanley dropped their price target on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Citigroup cut shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Barclays started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price for the company. Finally, Bank of America raised 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. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.