Insurance and financial services company The Hartford (NYSE:HIG) will be announcing earnings results this Monday afternoon. Here’s what you need to know.
Hartford met analysts’ revenue expectations last quarter, reporting revenues of $7.26 billion, up 8.1% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ net premiums earned estimates but a significant miss of analysts’ book value per share estimates.
Is Hartford a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Hartford’s revenue to grow 2.4% year on year, slowing from the 7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Hartford has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Hartford’s peers in the insurance segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Chubb delivered year-on-year revenue growth of 4.2%, missing analysts’ expectations by 0.8%, and RLI reported revenues up 5.3%, topping estimates by 0.5%. Chubb’s stock price was unchanged after the resultswhile RLI was up 2.5%.
Read our full analysis of Chubb’s results here and RLI’s results here.
There has been positive sentiment among investors in the insurance segment, with share prices up 5.1% on average over the last month. Hartford is up 10.1% during the same time and is heading into earnings with an average analyst price target of $146.86 (compared to the current share price of $136.75).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.