The Hartford Financial Services Group (NYSE:HIG) Posts Earnings Results, Beats Estimates By $0.26 EPS

The Hartford Financial Services Group (NYSE:HIG) posted its quarterly earnings results on Thursday. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26, Zacks reports. The Hartford Financial Services Group had a net margin of 11.62% and a return on equity of 20.35%.

The Hartford Financial Services Group Stock Up 0.6 %

Shares of The Hartford Financial Services Group stock opened at $114.19 on Friday. The stock’s 50-day moving average is $113.09 and its 200 day moving average is $113.35. The Hartford Financial Services Group has a one year low of $85.34 and a one year high of $124.90. The firm has a market cap of $33.10 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.82 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HIG shares. JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. UBS Group upped their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $134.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, BMO Capital Markets upped their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.28.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

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.