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

The Hartford Financial Services Group, Inc. (NYSE:HIG) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.84%.

The Hartford Financial Services Group has increased its dividend payment by an average of 10.4% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. The Hartford Financial Services Group has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.2 %

HIG opened at $113.00 on Thursday. The firm’s 50 day moving average is $110.93 and its 200-day moving average is $114.06. The Hartford Financial Services Group has a 52-week low of $92.54 and a 52-week high of $124.90. 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 firm has a market capitalization of $32.76 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Analysts expect that The Hartford Financial Services Group will post 11.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets increased their price objective on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. JPMorgan Chase & Co. upped 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 note on Friday, October 25th. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.