The Hartford Financial Services Group, Inc. (HIG) To Go Ex-Dividend on December 2nd

The Hartford Financial Services Group, Inc. (NYSE:HIG) declared a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.52 per share by the insurance provider on Friday, January 3rd. This represents a $2.08 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47.

The Hartford Financial Services Group has increased its dividend by an average of 10.3% 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 dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect The Hartford Financial Services Group to earn $11.54 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 18.0%.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $123.37 on Friday. The stock has a 50-day moving average price of $117.46 and a 200-day moving average price of $110.10. The Hartford Financial Services Group has a 1-year low of $76.65 and a 1-year high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market cap of $35.76 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HIG. Wells Fargo & Company lifted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Barclays began coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective for the company. Jefferies Financial Group lifted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.00.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.