On March 29, 2023,
Goldman Sachs
upgraded
their outlook for Hartford Financial Services Group (NYSE:HIG) from Neutral to Buy.
Analyst Price Forecast Suggests 32.83% Upside
As of March 29, 2023,
the average one-year price target for Hartford Financial Services Group is $89.00.
The forecasts range from a low of $70.70 to a high of $109.20.
The average price target represents an increase of 32.83% from its latest reported closing price of $67.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hartford Financial Services Group
is $24,221MM, an increase of 8.34%.
The projected annual non-GAAP EPS
is $8.56.
Hartford Financial Services Group Declares $0.42 Dividend
On February 22, 2023 the company declared a regular
quarterly dividend of $0.42 per share ($1.70 annualized).
Shareholders of record as of March 6, 2023
will receive the payment on April 4, 2023.
Previously, the company paid $0.42 per share.
At the current share price of $67.00 / share,
the stock’s dividend yield is 2.54%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.42%,
the lowest has been 1.86%,
and the highest has been 4.23%.
The standard deviation of yields is 0.47 (n=236).
The current dividend yield is
0.25 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.29.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.31%,
demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Price T Rowe Associates
holds 24,773K shares
representing 7.91% ownership of the company.
In it’s prior filing, the firm reported owning 19,135K shares, representing
an increase
of 22.76%.
The firm
increased
its portfolio allocation in HIG by 55.63% over the last quarter.
Jpmorgan Chase &
holds 14,580K shares
representing 4.66% ownership of the company.
In it’s prior filing, the firm reported owning 15,707K shares, representing
a decrease
of 7.73%.
The firm
increased
its portfolio allocation in HIG by 4.32% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 9,660K shares
representing 3.09% ownership of the company.
In it’s prior filing, the firm reported owning 9,652K shares, representing
an increase
of 0.08%.
The firm
increased
its portfolio allocation in HIG by 13.15% over the last quarter.
Invesco
holds 8,442K shares
representing 2.70% ownership of the company.
In it’s prior filing, the firm reported owning 7,984K shares, representing
an increase
of 5.43%.
The firm
increased
its portfolio allocation in HIG by 17.80% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares
holds 7,407K shares
representing 2.37% ownership of the company.
In it’s prior filing, the firm reported owning 7,448K shares, representing
a decrease
of 0.56%.
The firm
increased
its portfolio allocation in HIG by 11.83% over the last quarter.
What is the Fund Sentiment?
There are 1684 funds or institutions reporting positions in Hartford Financial Services Group.
This is an increase
of
50
owner(s) or 3.06% in the last quarter.
Average portfolio weight of all funds dedicated to HIG is 0.28%,
an increase
of 4.29%.
Total shares owned by institutions decreased
in the last three months by 2.59% to 337,041K shares.
The put/call ratio of HIG is 1.80, indicating a
bearish
outlook.
Hartford Financial Services Group Background Information
(This description is provided by the company.)
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
