Hartford Financial (HIG) To Post Q3 Earnings: What To Expect
Zacks Investment Research | Oct 31, 2019 10:52PM ET
The Hartford Financial Services Group, Inc. (NYSE:HIG) will release third-quarter 2019 financial results on Nov 4, after the closing bell.
The Zacks Consensus Estimate for earnings is pegged at $1.26, indicating a 9.6% rise from the year-ago reported figure.
In the last reported quarter, the company delivered adjusted operating earnings of $1.33, beating the Zacks Consensus Estimate by 20%. Moreover, the bottom line was up 18% year over year on improved Personal Lines, Group Benefits and Corporate results, partly offset by lower Commercial Lines’ core earnings.
Its surprise history is impressive, beating estimates in all the trailing four quarters, the average being 15.6%.
Q3 Expectations
The company’s Property & Casualty segment is likely to have delivered solid results in the third quarter on the back of its solid Commercial Lines business. This, in turn, might have boosted the revenue base.
The consensus mark for written premiums of Commercial Lines suggests 22.3% growth from the year-earlier reported number.
The consensus estimate for core earnings from the Property & Casualty segment implies an upside of 34% from the prior-year reported figure.
However, higher revenues are expected to have been offset by a softness in Personal Lines business. The consensus mark for written premiums from Personal Lines indicates a 3% dip from the year-ago reported number.
After suffering low investment income for a few quarters due to low interest rates, the company has been witnessing a rise in the metric since 2018. This uptrend has most likely continued in the third quarter, providing some additional support to the revenue stream.
Lower share count owing to continued buybacks is likely to have provided an additional boost to the bottom line.
The company is expected to have incurred high expenses due to planned marketing and other growth initiatives.
What the Quantitative Model States
Our proven model does not conclusively predict an earnings beat for Hartford Financial this season. The combination of a positive Original post
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