Overview
US property and casualty insurer's Q1 core EPS rose 40% but missed analyst expectations
Q1 adjusted net income increased 36% but missed analyst estimates
Company returned $617 mln to shareholders via buybacks and dividends in Q1
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
LOWER CATASTROPHE LOSSES - Co said lower current accident year catastrophe losses, especially in Personal Insurance, contributed to improved Q1 results
PREMIUM GROWTH - Business Insurance written premiums rose 6%
HIGHER INVESTMENT INCOME - Net investment income increased 13%, driven by higher returns from limited partnerships and reinvesting at higher rates
Company press release: ID:nBw3tN4Dsa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Core EPS
Miss
$3.09
$3.40 (20 Analysts)
Q1 EPS
$3.04
Q1 Adjusted Net Income
Miss
$866 mln
$956.57 mln (13 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy"
Wall Street's median 12-month price target for Hartford Insurance Group Inc is $149.00, about 7.9% above its April 22 closing price of $138.11
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)