HIG
Hartford Financial Services Group Inc.NYSE
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  • Yesterday, 10:23 AM
    • An improved outlook for interest rates (higher) and the hope for an easing of the DOL's new fiduciary rule in a Trump administration mean it's time to shift money into the life insurance sector, says RBC's Mark Dwelle.
    • P&C insurers face weak pricing expectations, so the focus will be on accident-year margin pressure and the implications for reserves.
    • Alongside an earlier-reported downgrade of Aflac (NYSE:AFL) to Underperform (stock is now down 2.3%), he cuts RLI Corp. (RLI -5.2%) to Underperform as well.
    • Downgraded to Sector Perform are Unum (UNM -1.6%) and Selective Insurance (SIGI -4.6%).
    • Favored pick in P&C is Chubb (CB -0.2%) as it's a "top underwriter" regardless of pricing, and has a clean balance sheet and attractive valuation.
    • Upgraded to Outperform are Hartford (HIG +0.5%) and Lincoln National (LNC -0.1%), with LNC a Top Pick thanks to its leverage to higher rates and eased DOL rule.
    • Top value ideas are AIG (AIG -0.1%)  and Voya Financial (VOYA +0.5%). Top growth ideas: Arch (ACGL +0.6%), Principal Financial (PFG -1.1%). Top small-cap picks: American Equity (AEL +3.9%), Kinsale Capital (KNSL +1.1%). Top turnaround/self-help picks: MetLife (MET -0.6%), XL Group (XL -0.1%). Top defensive play: Marsh & McLennan (MMC).
    • Source: Bloomberg
    | Yesterday, 10:23 AM
  • Wed, Dec. 7, 3:04 PM
    • Presenting at the Goldman Sachs financial services conference this morning, Hartford Financial (HIG -2.1%) management said auto loss trends are likely to crimp Q4 results.
    • Webcast
    • The stock's decline hasn't spread to the rest of the P&C sector, which is lit up green on the session.
    | Wed, Dec. 7, 3:04 PM
  • Thu, Dec. 1, 10:54 AM
    • November monthly performance was: +2.66%
    • AUM of $18.8B
    • 52-week performance vs. the S&P 500 is: +1%
    • No dividends were paid in November
    • Top 10 Holdings as of 9/30/2016: General Mills Inc (GIS): 2.95066%, AT&T Inc (T): 2.90074%, Coca-Cola Co (KO): 2.73316%, The Hartford Financial Services Group Inc (HIG): 2.54395%, Exelon Corp (EXC): 2.51904%, PPL Corp (PPL): 2.41072%, Procter & Gamble Co (PG): 2.34328%, Suncor Energy Inc (SU): 2.27143%, The Kraft Heinz Co (KHC): 1.91049%, Campbell Soup Co (CPB): 1.87577%
    | Thu, Dec. 1, 10:54 AM
  • Wed, Nov. 30, 11:45 AM
    • While the pick of ex-Goldmanite and Hollywood player Steven Mnuchin for Treasury Secretary can hardly be called "draining the swamp," Pantheon's Ian Shepherdson says it should make Wall Street happy.
    • In his first public comments after being selected, Mnuchin promised to "kill" swaths of Dodd-Frank.
    • Also making Wall Street (and other bankers/insurers/brokers) happy today is another big move higher in interest rates, with the 10-year Treasury yield up 10 basis points to 2.394%.
    • The S&P 500 is just marginally higher, but the KBE is ahead 1.9%, and the KRE 2%. XLF +1.35%
    • Bank of America (BAC +3.4%), Citigroup (C +1.9%), JPMorgan (JPM +1.5%), Wells Fargo (WFC +1.8%), Morgan Stanley (MS +2.1%), Goldman Sachs (GS +3.9%), U.S. Bancorp (USB +1%), PNC Financial (PNC +1.4%), KeyCorp (KEY +2.2%), Fifth Third (FITB +2.5%), Regions Financial (RF +2.9%), BB&T (BBT +2.4%), SunTrust (STI +2%)
    • MetLife (MET +2%), AIG (AIG +0.8%), Lincoln National (LNC +1.7%), Prudential (PRU +1.1%), Hartford (HIG +1.3%)
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, IYG, FNCL, SEF, FXO, RYF, FINU, RWW, XLFS, FINZ, JHMF, FAZZ, FNCF
    | Wed, Nov. 30, 11:45 AM | 54 Comments
  • Tue, Nov. 29, 1:24 PM
    • Hartford Financial (NYSE:HIG) has declared $0.23/share quarterly dividend, 9.5% increase from prior dividend of $0.21.
    • Payable Jan. 3; for shareholders of record Dec. 1; ex-div Nov. 29.
    | Tue, Nov. 29, 1:24 PM
  • Mon, Nov. 28, 8:12 AM
    • Following its big move since the election (a coda to the larger rally since late June), MetLife (NYSE:MET) has essentially discounted improved rate spread, tax, and regulation factors, as well as the Brighthouse spin and buyback, says analyst Randy Binner, downgrading to Market Perform from Outperform.
    • While the gain in Hartford Financial (NYSE:HIG) since the vote wasn't as dramatic, he's "moving to the sidelines" on that name as well as the stock nears his $47 price target.
    • Maiden Holdings (NASDAQ:MHLD) is up 17% since the election, but has just "marginal spread benefit" from higher rates, and won't benefit a whole lot from possible tax and regulatory changes.
    • Source: Bloomberg
    | Mon, Nov. 28, 8:12 AM
  • Wed, Nov. 16, 9:50 AM
    • Added to the wave of valuation-related sell-side financial-sector downgrades following big runs higher is Hartford Financial (HIG -2.3%), cut to Neutral from Buy at BAML.
    • Hartford's up just 7% this year, but ahead nearly 20% since the start of August.
    • Previously: Sell-side takes profits on banks (Nov. 16)
    | Wed, Nov. 16, 9:50 AM
  • Mon, Nov. 14, 11:33 AM
    • The major averages are stuck in the red, but the XLF is up 2.2% and the KBE +3% as financial sector investors mull a world of higher interest rates and lowered regulation.
    • REITs continue to fall, but thanks to this fall's sector reclassification, those names are no longer in the financial indexes.
    • Regional banks: Regions Financial (RF +6.9%), New York Community (NYCB +2.9%), KeyCorp (KEY +3.1%), PNC Financial (PNC +2.4%), Fifth Third (FITB +4%), SunTrust (STI +3%), M&T (MTB +3.1%)
    • Insurers: MetLife (MET +2.2%), Lincoln (LNC +3.2%), AIG (AIG +2.1%), Hartford (HIG +2.3%), Travelers (TRV +1.4%)
    • Online brokerage: Schwab (SCHW +3.6%), Ameritrade (AMTD +2.5%)
    • Asset management: Franklin Resources (BEN +3.2%), Och-Ziff (OZM +4.5%), Invesco (IVZ +2.2%), T. Rowe Price (TROW +2.8%), BlackRock (BLK +0.4%)
    | Mon, Nov. 14, 11:33 AM | 8 Comments
  • Thu, Nov. 3, 8:48 AM
    • October monthly performance was: -0.58%
    • AUM of $18.4B
    • 52-week performance vs. the S&P 500 is: +12%
    • No dividends were paid in October
    • Top 10 Holdings as of 6/30/2016: General Mills Inc (GIS): 3.56363%, AT&T Inc (T): 3.10141%, Coca-Cola Co (KO): 2.92358%, Campbell Soup Co (CPB): 2.52377%, Exelon Corp (EXC): 2.36382%, Suncor Energy Inc (SU): 2.32307%, The Hartford Financial Services Group Inc (HIG): 2.28103%, PPL Corp (PPL): 2.13051%, The Kraft Heinz Co (KHC): 2.07219%, Heineken NV (OTCQX:HINKF): 1.90962%
    | Thu, Nov. 3, 8:48 AM
  • Thu, Oct. 27, 4:33 PM
    • Q3 core earnings of $413M or $1.06 per share vs. $364M and $0.86 one year ago.
    • Net investment income of $772M up 6% Y/Y. Annualized investment yield of 4.1% down 10 basis points.
    • P&C combined ratio of 96.5 improves from 97.3 a year ago. Underlying combined ratio of 92.5% improves from 93.0. Looking just at personal lines, the combined ratio remained above 100 at 100.2 vs. 101.1 a year ago. CEL Chris Swift: "Personal automobile results remain challenged."
    • Book value per share (excl. AOCI) of $45.74 up 6% Y/Y.
    • Core earnings ROE (excl. Talcott Resolution) of 9.1% vs. 10.5% a year ago.
    • The quarterly dividend is boosted 10% to $0.23 per share. A new $1.3B buyback plan expiring at the end of next year is approved. $350M spent on buybacks in Q3 under the $4.375B plan ending on Dec. 31 of this year.
    • Conference call tomorrow at 9 ET
    • Previously: Hartford Financial beats by $0.11 (Oct. 27)
    • HIG +0.4% after hours
    | Thu, Oct. 27, 4:33 PM | 2 Comments
  • Thu, Oct. 27, 4:22 PM
    | Thu, Oct. 27, 4:22 PM
  • Wed, Oct. 26, 5:35 PM
  • Mon, Oct. 3, 10:31 AM
    • September monthly performance was: -0.61%
    • AUM of $18.1B
    • 52-week performance vs. the S&P 500 is: 0%
    • $0.07 in dividends were paid in September
    • Top 10 Holdings as of 6/30/2016: General Mills Inc (GIS): 3.56363%, AT&T Inc (T): 3.10141%, Coca-Cola Co (KO): 2.92358%, Campbell Soup Co (CPB): 2.52377%, Exelon Corp (EXC): 2.36382%, Suncor Energy Inc (SU): 2.32307%, The Hartford Financial Services Group Inc (HIG): 2.28103%, PPL Corp (PPL): 2.13051%, The Kraft Heinz Co (KHC): 2.07219%, Heineken NV (OTCQX:HINKF): 1.90962%
    | Mon, Oct. 3, 10:31 AM
  • Wed, Sep. 21, 10:30 AM
    • Hartford's (NYSE:HIG) variable annuity business, Talcott Resolution, has been in run-off mode, and carries $4.7B of statutory surplus.
    • The Insurance Insider reports JPMorgan has been hired to run a sale process for the unit, but some investment banking sources are skeptical, arguing Hartford is effectively carrying out a valuation exercise.
    • HIG is higher by 1.25% today.
    | Wed, Sep. 21, 10:30 AM
  • Tue, Sep. 6, 11:27 AM
    • August monthly performance was: -0.88%
    • AUM of $17.7B
    • 52-week performance vs. the S&P 500 is: -6%
    • No dividends were paid in August
    • Top 10 Holdings as of 6/30/2016: General Mills Inc (GIS): 3.56363%, AT&T Inc (T): 3.10141%, Coca-Cola Co (KO): 2.92358%, Campbell Soup Co (CPB): 2.52377%, Exelon Corp (EXC): 2.36382%, Suncor Energy Inc (SU): 2.32307%, The Hartford Financial Services Group Inc (HIG): 2.28103%, PPL Corp (PPL): 2.13051%, The Kraft Heinz Co (KHC): 2.07219%, Heineken NV (OTCQX:HINKF): 1.90962%
    | Tue, Sep. 6, 11:27 AM | 1 Comment
  • Tue, Aug. 30, 6:54 AM
    | Tue, Aug. 30, 6:54 AM