HIG Stock Recent News

Climate change and extreme weather events, particularly wildfires, are increasingly impacting the profitability of Property & Casualty insurance companies. Insurance companies are adapting by raising prices, being more selective in underwriting, or exiting high-risk markets like California due to severe losses and regulatory constraints. The recent LA wildfires are expected to be the costliest in U.S. history, significantly impacting insurers, especially Mercury General, due to its high concentration in California.

HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford appointed Tooker as the company's president. In this new role, he will add Personal Lines to his current position overseeing Small Commercial, Middle & Large Commercial and Global Specialty, as well as Enterprise Sales & Distribution and Risk Services. This will align all of the company's property-and-casualty businesses under his leadership. In addition, Tooker will also be responsible for stewarding a number of enterprise-wide initiatives.

Travelers' stock (NYSE: TRV) has gained about 30% since the start of 2024, versus the S&P 500 which remains up by 25% over the same period. In comparison, Travelers' peer, Hartford Financial (NYSE: HIG) has witnessed an even stronger performance rising by about 39% over the same period.

Hartford Financial's stock (NYSE: HIG) has gained approximately 39% since early 2024, compared to the 23% increase in the S&P500 index over the same period. In comparison, Hartford Financial's peer Travelers (NYSE: TRV) stock was up about 30% over the same period.

HIG is well-poised for growth on the back of strong contribution from its Commercial Lines and Group Benefits businesses. A strong financial position enables the prudent deployment of capital.

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has assigned indicative Long-Term Issue Credit Ratings of “a-” (Excellent) to senior unsecured issues, “bbb+” (Good) to senior subordinated issues and “bbb” (Good) to junior subordinated and preferred stock on the recently filed shelf registration of The Hartford Financial Services Group, Inc. (The Hartford) (Delaware) [NYSE: HIG]. The outlook assigned to these Credit Ratings (ratings) is positive. Concurrently, AM Best has withdrawn the ratings on the pr.

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UPBD, HIG, ACGL, PHM and BCH are some of the stocks with high ROE to profit from as markets skid from fresh 52-week highs.

Hartford Financial: A Massive Rally, And The Earnings Story Is Still There

Hartford Financial's ROE has the potential to go higher, if the proportion of revenue contributed by the high-ROE Property & Casualty segment increases going forward. The new $3.3 billion share buyback program boosts the stock's capital return, potentially raising the forward shareholder yield to an attractive 6.4%. My 3.0 times target P/B multiple for HIG translates into a substantial capital appreciation upside of around 36% that supports a Buy rating.