Stock Monitor: American National Insurance Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 12, 2018 / Active-Investors.com has just released a free earnings report on The Hartford Financial Services Group, Inc. (NYSE: HIG) ("Hartford"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=HIG. The Company posted its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's core diluted earnings per share (EPS) grew 5% y-o-y, outperforming Wall Street's estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for American National Insurance Company (NASDAQ: ANAT), which also belongs to the Financial sector as the Company Hartford Financial Services Group. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Hartford Financial Services Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=HIG
Earnings Highlights and Summary
During Q4 FY17, Hartford reported total revenues of $4.54 billion, rising from the $3.98 billion recorded at the end of Q4 FY16. The Company's earned premium numbers came in at $3.80 billion for the reported quarter versus $3.46 billion in Q4 FY16. The Company's fee income increased to $265 million in Q4 FY17 from $224 million in the year ago same quarter. Meanwhile, the Company's net investment income fell to $394 million in Q4 FY17 from $412 million in Q4 FY16.
The insurance and financial services Company reported a net loss of $3.70 billion, or $10.37 loss per diluted share, in Q4 FY17 compared to a net loss of $81 million, or $0.22 loss per diluted share, in Q4 FY16. The Company's net loss during the reported quarter was attributed to discontinued operations related to the previously announced agreement to sell Talcott Resolution, and charges due to the reduction in the US corporate tax rate. Meanwhile, the Company's core earnings were $293 million, or $0.81 per diluted share, in Q4 FY17 from $294 million, or $0.77 per diluted share, in Q4 FY16. Wall Street had forecasted the Company to report core earnings of $0.74 per diluted share for Q4 FY17.
The Hartford, Connecticut-based Company's total revenues stood at $16.97 billion for the full year FY17, which came in above $16.11 billion in FY16. The Company posted a net loss of $3.13 billion, or $8.61 loss per diluted share, during FY17 versus a net income of $896 million, or $2.27 per diluted share, a year ago. Additionally, the Company's core earnings stood at $1.01 billion, or $2.74 per diluted share, in FY17, up from $912 million, or $2.31 per diluted share, in FY16.
Operating Metrics
For the three months ended December 31, 2017, the Company's benefits and expenses were $4.12 billion compared to $4.35 billion in Q4 FY16. The Company's loss from continuing operations, net of tax, came in at $558 million in Q4 FY17 versus a loss from continuing operations, net of tax, of $135 million in the year ago comparable quarter. Furthermore, Hartford's Property & Casualty (P&C) combined ratio of 98.4 in Q4 FY17, consisted of 6.8 points of current accident year catastrophe losses.
Segment Performance
During the reported quarter, Hartford's Commercial Lines segment's total revenues grew to $2.02 billion from $1.94 billion in Q4 FY16. The segment's core earnings came in at $282 million in Q4 FY17 compared to $274 million the past year's corresponding quarter. Furthermore, the segment's recorded combined ratio was 89.9 in Q4 FY17 compared to 91.3 in Q4 FY16.
Hartford's Personal Lines segment generated total revenues of $975 million, which were lower than the $1.03 billion recorded in the last year's same quarter. The segment posted a core loss of $46 million in Q4 FY17 compared to a core loss of $14 million in Q4 FY16. Moreover, the segment's combined ratio was 112.5 in Q4 FY17 compared to 106.7 in Q4 FY16.
In Q4 FY17, Hartford's Group Benefits segment's total revenues were $1.30 billion compared to $911 million in Q4 FY16. The segment's core earnings were $67 million in Q4 FY17 versus $59 million in Q4 FY16.
Hartford's Mutual Funds segment's total revenues were $184 million in Q4 FY17 compared to $807 million in Q4 FY16. Additionally, the segment's core earnings were $17 million in Q4 FY17 compared to $110 million in Q4 FY16.
Balance Sheet
Hartford generated cash from its operating activities of $2.19 billion in FY17 compared to $2.07 billion in FY16. The Company had a cash balance of $180 million as on December 31, 2017, compared to $328 million at the close of books on December 31, 2016. Furthermore, the Company's long-term debt stood at $4.68 billion as on December 31, 2017, compared to $4.49 billion as on December 31, 2016.
Stock Performance Snapshot
March 09, 2018 - At Friday's closing bell, The Hartford Financial Services Group's stock advanced 3.26%, ending the trading session at $56.13.
Volume traded for the day: 3.67 million shares, which was above the 3-month average volume of 2.49 million shares.
Stock performance in the last month - up 0.48%; previous three-month period - up 2.20%; last six-month period - up 8.69%; and past twelve-month period - up 13.88%
After last Friday's close, The Hartford Financial Services Group's market cap was at $20.41 billion.
Price to Earnings (P/E) ratio was at 33.19.
The stock has a dividend yield of 1.78%.
The stock is part of the Financial sector, categorized under the Property & Casualty Insurance industry. This sector was up 1.8% at the end of the session.
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