- Revenue: $6.49 billion, an increase of 7.2% year-over-year; matched the estimated $6.53 billion.
- Core EPS: $2.50 per share, up from $1.88 per share year-over-year; above the estimated $2.25.
- Net Investment Income: $602 million, an increase of 11% year-over-year; slightly below the estimate of $606.8 million.
- Book Value per Share: $51.43, up from $44.43 year-over-year; met the estimate of $51.43.
- Assets Under Management: $135.52 billion for Hartford funds; narrowly missing the estimate of $136.55 billion.
- Commercial Lines Written Premiums: $3.54 billion, up 11% year-over-year; higher than the estimated $3.44 billion.
- Commercial Lines Underwriting Gain: $319 million, an increase of 26% year-over-year; significantly above the estimate of $252.6 million.
- Personal Lines Written Premiums: $913 million, up 14% year-over-year; exceeding the estimate of $888.7 million.
- Personal Lines Underwriting Loss: $63 million, compared to a loss of $13.0 million year-over-year; higher than the estimated loss of $58.3 million.
- Group Benefits Premiums: $1.61 billion in fully insured ongoing premiums excluding buyout premiums, an increase of 2.2% year-over-year; slightly below the estimate of $1.63 billion.
- Analyst Ratings: 10 buys, 11 holds, and 1 sell recommendation.
Hartford Financial Svcs Grp on Smartkarma
Analysts on Smartkarma are taking a positive stance on Hartford Financial Svcs Grp, as highlighted by Baptista Research. In their report titled “The Hartford Financial Services Group: Initiation of Coverage – Evolution and Expansion in Product Offerings! – Major Drivers,” the firm praised the company for delivering robust financial outcomes in the first quarter of 2024. Notably, Hartford Financial showed consistent performance and growth across various business segments, with Commercial Lines achieving an 8% growth and maintaining a strong underlying combined ratio of 88.4%. This achievement reflects the company’s strong underwriting and pricing strategies, further supported by a commendable twelve-month core earnings return on equity of 16.6%.
A look at Hartford Financial Svcs Grp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma Smart Scores, Hartford Financial Svcs Grp shows a promising long-term outlook. With solid scores across key factors, including Value, Dividend, Resilience, and Momentum, the company seems well-positioned for growth. Specifically, its Growth score of 4 indicates a strong potential for expanding its business operations and increasing profitability over time. This suggests Hartford Financial may be able to capitalize on market opportunities and enhance shareholder value in the coming years.
As a provider of insurance products, including property and casualty, group benefits, and mutual funds, Hartford Financial Svcs Grp operates primarily in the U.S. This focus on the domestic market may provide stability and consistent performance for the company. With balanced scores in key areas, Hartford Financial appears to have a strategic advantage in navigating various market conditions and sustaining its operations successfully in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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