The Hartford Insurance Group, Inc. Plans Quarterly Dividend of $0.60 (NYSE:HIG)

Key Points

• The Hartford Insurance Group declared a quarterly dividend of $0.60 per share, payable on October 2 to shareholders of record on September 1. The dividend implies an annualized yield of about 1.8%.
• The company has a strong dividend track record, having raised its dividend for 12 straight years. Its payout ratio is relatively low at 18.5%, suggesting the dividend is well covered by earnings.
• Despite the dividend news, HIG shares fell 2.7% and the stock is down after its last earnings report, where EPS and revenue both missed analyst expectations. The company still reported year-over-year revenue growth of 6.1%.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) announced a quarterly dividend on Wednesday, July 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.60 per share by the insurance provider on Friday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st.

The Hartford Insurance Group has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. The Hartford Insurance Group has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect The Hartford Insurance Group to earn $13.92 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 17.2%.

The Hartford Insurance Group Stock Down 2.7%

Shares of The Hartford Insurance Group stock opened at $134.48 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $36.86 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. The Hartford Insurance Group has a 52-week low of $119.61 and a 52-week high of $144.50. The company has a 50-day simple moving average of $132.79 and a two-hundred day simple moving average of $135.38.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. On average, analysts anticipate that The Hartford Insurance Group will post 12.81 EPS for the current fiscal year.

About The Hartford Insurance Group

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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