HIG The Hartford Financial Services Group Inc Stock Price Quote NYSE

This will further improve the company’s operating efficiency and improve customer experience. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. Style is an investment factor that has a meaningful impact on investment risk and returns.

• The Style Scores are a complementary set of indicators to use alongside the Zacks Rank.
• This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
• The consensus estimate for AXS’s 2023 and 2024 earnings has moved up 2.8% and 1.5%, respectively, in the past 30 days.
• 839 employees have rated The Hartford Financial Services Group Chief Executive Officer Christopher Swift on Glassdoor.com.
• It is also worth noting that Hartford Financial’s historical ROEs have been higher than most of the company’s listed peers as highlighted in the chart below.

The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Shares of Hartford Financial Services Group Inc. dropped 1.1% in premarket trading Tuesday, after the property and casualty insurer said it has rejected Chubb Ltd.’s unsolicited buyout bid.

About MarketBeat

Markets are pricing a 97% chance the Fed will keep rates level at the 5.25%-5.5% target range, according to the CME FedWatch tool, the highest rates have been since 2001. The quickening pace of inflation is largely due to rising gas prices, in addition to rising shelter prices, which increased for the 40th straight month in August, the Bureau of Labor Statistics said in a statement. In the first half of this year, HIG spent approximately $700 million on share repurchases, and the company still has around $2 billion remaining from its current buyback authorization, which lasts till the end of next year. Separately, California, New York, Texas, and Florida represented 12%, 10%, 8%, and 5% of HIG’s earned premiums for the most recent fiscal year, respectively, as highlighted in its 10-K filing. Apart from these four markets, no other region contributed over 5% of Hartford Financial’s fiscal 2022 earned premiums.

A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included https://1investing.in/ in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

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If the actual profitability of the workers’ compensation business turns out to be better than expected, the company’s ROEs in subsequent quarters and years should end up higher than the analysts’ consensus financial projections. Hartford Financial refers to itself as a “leader in property and casualty insurance, group benefits, and mutual funds” in the company’s media releases. High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. The Zacks Consensus Estimate for AXS’s 2023 and 2024 earnings indicates a 44.8% and 10.7% year-over-year increase, respectively. The consensus estimate for AXS’s 2023 and 2024 earnings has moved up 2.8% and 1.5%, respectively, in the past 30 days. Axis Capital delivered a trailing four-quarter average earnings surprise of 9.8%. The Zacks Consensus Estimate for ACGL’s 2023 and 2024 earnings indicates a 38.2% and 10.4% year-over-year increase, respectively. The consensus estimate for 2023 and 2024 has moved up 2.3% and 2.5%, respectively, in the past 60 days.

Hartford Financial Services Group (NYSE: HIG)

Christopher Swift has an approval rating of 89% among the company’s employees. Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising. Sign-up to receive the latest news and ratings for The Hartford Financial Services Group and its competitors with MarketBeat’s FREE daily newsletter. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. HIG earnings call for the period ending September 30, 2021.

ProAssurance’s earnings surpassed estimates in two of the last four quarters while missing in the other two. This new launch adds to the company’s existing Electronic Business Center agent portal, which gives access to digital tools, enhancing transparency, in one centralized location. As the company continues to invest in technology, it aims to drive growth using this as a competitive advantage and save on expenses in the future. The Hartford Financial Services Group announced a quarterly dividend on Wednesday, July 19th.

About Hartford Financial Services Group, Inc. (The)

Arch Capital’s earnings surpassed estimates in all the last four quarters, the average beat being 26.8%. Some better-ranked stocks from the insurance space are Arch Capital Group (ACGL Quick QuoteACGL – Free Report) , Axis Capital Holdings (AXS Quick QuoteAXS – Free Report) and ProAssurance (PRA Quick QuotePRA – Free Report) . Each of these companies presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.

I view Hartford Financial’s shares as cheap based on historical and peer valuation comparisons. Future share buybacks and the resilience of the workers’ compensation business are expected to act as favorable re-rating catalysts for HIG. As such, I am bullish on HIG, which translates into a Buy rating for the stock. The proof is in the pudding, and sales vs revenue I expect HIG to prove to the market over time that medical inflation will have a very limited impact on its workers’ compensation business and the company’s overall performance. A sell-side analyst from BMO questioned at HIG’s Q results briefing whether “an uptick in medical inflation” has affected the company’s workers’ compensation business.

Style is calculated by combining value and growth scores, which are first individually calculated. Thirdly, there is a significant mismatch between Hartford Financial’s high single-digit P/E multiple and the company’s low-to-mid-teens percentage ROE. In contrast, Hartford Financial’s ROEs for full-year FY 2022 and Q were 14.5% and 13.6%, respectively, as disclosed in the company’s recent quarterly earnings presentation.

This move bodes well for HIG, enhancing its digital capabilities and acting as a key differentiator. Moreover, as brokers and agents benefit from this, the company’s business will improve as a result. Agents and brokers can now easily request a quote of auto, general liability, property and workers’ compensation accounts and share submission data in a seamless way. Agents’ efficiency and policy sales will improve, thereby boosting the top line in the future.

Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year. These returns cover a period from January 1, 1988 through July 31, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.

Hartford Financial responded to this question by noting at its most recent quarterly earnings call that its “medical severity trends (for Q2 2023) are consistent with” its Q1 commentary and “lower than the 5% that we assume in our pricing and reserving.” The Hartford Financial Services Group, Inc. (HIG Quick QuoteHIG – Free Report) recently announced the launch of its new submission and quote Application Programming Interfaces and portal options. HIG’s new digital capabilities will aid its brokers in writing mid-size and large accounts to improve accuracy, provide faster turnaround and reduce time taken.

• As such, I am bullish on HIG, which translates into a Buy rating for the stock.
• The company is expected to accelerate profitable organic growth as a result.
• Agents’ efficiency and policy sales will improve, thereby boosting the top line in the future.
• HIG earnings call for the period ending September 30, 2021.
• Agents and brokers can now easily request a quote of auto, general liability, property and workers’ compensation accounts and share submission data in a seamless way.

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank.