Hartford Financial (HIG) Q4 Earnings Top Estimates, Down Y/Y
Zacks Investment Research | Feb 06, 2019 04:36AM ET
The Hartford Financial Services Group, Inc. (NYSE:HIG) reported fourth-quarter 2018 adjusted operating earnings of 78 cents per share, beating the Zacks Consensus Estimate by 20%. The upside was primarily backed by stronger core earnings in Group Benefits and Hartford Funds, lower tax rate, better Commercial Lines underlying results and higher net investment income in Property &Casualty and Corporate. However, the bottom line declined 3.7% year over year mainly due to elevated P&C catastrophe loss.
Total operating revenues came in at $4.63 billion, up 1% year over year. This upside was primarily driven by a rise in earned premiums and solid net investment income.
Total operating expenses of $4.47 billion rose 7.2% year over year due to higher benefits and cost, amortization and insurance operating cost.
The Hartford Financial Services Group, Inc. Price, Consensus and EPS Surprise
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
Among the insurance industry players that have reported fourth-quarter earnings so far, The Travelers Companies, Inc. (NYSE:TRV) , Marsh & McLennan Companies, Inc. (NYSE:MMC) and RLI Corp.’s (NYSE:RLI) bottom lines beat the respective Zacks Consensus Estimate.
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