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HIG — Hartford Insurance group News Story

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Hartford Q1 core EPS misses estimates

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

MetricBeat/MissActualConsensus Estimate
Q1 Core EPSMiss$3.09$3.40 (20 Analysts)
Q1 EPS$3.04
Q1 Adjusted Net IncomeMiss$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.)

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