The Hartford Financial Services Group, Inc. (NYSE:HIG) Declares Dividend Increase – $0.52 Per Share

The Hartford Financial Services Group, Inc. (NYSE:HIG) announced 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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47.

The Hartford Financial Services Group has raised its dividend payment by an average of 10.3% 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 17.9% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.3 %

Shares of HIG stock opened at $123.37 on Friday. The company’s fifty day simple moving average is $117.46 and its two-hundred day simple moving average is $110.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group has a 1 year low of $76.65 and a 1 year high of $124.90. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.02 and a beta of 0.94.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group 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 completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HIG shares. UBS Group boosted their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Bank of America upped their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $122.00.

The Hartford Financial Services Group Company Profile

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.