Hartford Q2 Profit Rises on Strong Insurance Demand, Investment Income
HIG sits 18% above its 52-week low of $120.33.
Summary
The Hartford posted higher Q2 profit, with core earnings of $945 million ($3.42 per share) versus $932 million ($3.24 per share) a year ago. Business insurance written premiums grew 5% to $4.02 billion, and net investment income jumped to $800 million from $658 million, reflecting strong demand and higher yields. The combined ratio in business insurance rose to 91.4% from 87%, still comfortably profitable. This follows the recent Hartford Funds divestiture and a new $4.2 billion buyback authorization, reinforcing a capital-return focus. The stock is trading near its 52-week high, suggesting the market had already priced in solid results.
At the time of this announcement, HIG was trading at $142.00 on NYSE in the Finance sector, with a market capitalization of approximately $39B. The 52-week trading range was $120.33 to $144.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.