Hartford Financial Services Group Inc (NYSE:HIG) announced a quarterly dividend on Thursday, February 22nd, RTT News reports. Stockholders of record on Monday, March 5th will be given a dividend of 0.25 per share by the insurance provider on Monday, April 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.88%.
Hartford Financial Services Group has raised its dividend by an average of 13.5% per year over the last three years and has increased its dividend every year for the last 5 years. Hartford Financial Services Group has a dividend payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hartford Financial Services Group to earn $4.88 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 20.5%.
Shares of Hartford Financial Services Group (NYSE:HIG) opened at $53.22 on Friday. Hartford Financial Services Group has a 52 week low of $46.35 and a 52 week high of $59.20. The company has a market cap of $19,249.36, a price-to-earnings ratio of 15.64, a PEG ratio of 1.29 and a beta of 0.93. The company has a quick ratio of 0.40, a current ratio of 0.27 and a debt-to-equity ratio of 0.37.
Several brokerages recently commented on HIG. Zacks Investment Research cut shares of Hartford Financial Services Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 26th. Wells Fargo & Co set a $56.00 price objective on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research note on Friday, February 9th. B. Riley reiterated a “neutral” rating on shares of Hartford Financial Services Group in a research note on Monday, November 6th. Citigroup began coverage on shares of Hartford Financial Services Group in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 price objective for the company. Finally, Credit Suisse Group upgraded shares of Hartford Financial Services Group from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Hartford Financial Services Group has an average rating of “Hold” and an average target price of $59.00.
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About Hartford Financial Services Group
The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.
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