The Hartford Financial Services Group, Inc. (NYSE:HIG) to Issue $0.52 Quarterly Dividend

The Hartford Financial Services Group, Inc. (NYSE:HIG) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.52 per share by the insurance provider on Wednesday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, March 3rd.

The Hartford Financial Services Group has increased its dividend payment by an average of 10.4% annually over the last three years and has increased its dividend every year for the last 12 years. The Hartford Financial Services Group has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Analysts expect The Hartford Financial Services Group to earn $12.67 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 16.4%.

The Hartford Financial Services Group Trading Down 0.5 %

The Hartford Financial Services Group stock opened at $112.39 on Friday. The business has a 50 day moving average price of $110.96 and a two-hundred day moving average price of $114.05. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group has a 12 month low of $93.41 and a 12 month high of $124.90. The stock has a market cap of $32.58 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, equities analysts forecast that The Hartford Financial Services Group will post 11.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HIG shares. Wells Fargo & Company lowered their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

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.