Insurance and financial services company The Hartford (NYSE: HIG) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Hartford beat analysts’ revenue expectations last quarter, reporting revenues of $7.34 billion, up 6.7% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ net premiums earned 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 decline 24.2% year on year, a reversal from the 6.1% 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 to stay the course heading into earnings. Hartford has a history of exceeding Wall Street’s expectations.
Looking at Hartford’s peers in the insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Chubb delivered year-on-year revenue growth of 11.9%, beating analysts’ expectations by 4.7%, and Progressive reported revenues up 8.7%, in line with consensus estimates. Progressive traded up 3.5% following the results.
Read our full analysis of Chubb’s results here and Progressive’s results here.
There has been positive sentiment among investors in the insurance segment, with share prices up 6.7% on average over the last month. Hartford is up 2.8% during the same time and is heading into earnings with an average analyst price target of $150.20 (compared to the current share price of $139.19).
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 $437 billion giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
