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HIG

Hartford Financial

$55.43

0.31 (0.56%)

08:06
10/02/17
10/02
08:06
10/02/17
08:06

The Hartford sees Q3 catastrophe losses of $35M-$375M before tax

The Hartford announced that it currently expects to report third quarter 2017 catastrophe losses of $325M-$375M before tax, or approximately $210M-$245M after tax. This estimate includes losses from Hurricane Harvey of $175M, before tax, and from Hurricane Irma of $125M-$175M, before tax, each having a larger impact on Commercial Lines than on Personal Lines. Aside from these two named storms, the company's losses from third quarter 2017 catastrophes, including Hurricane Maria, are relatively low. All of the estimates are net of property per risk and other facultative reinsurance. The two hurricanes are not expected to result in any recoveries from the company's property catastrophe occurrence treaty, which has a $350M before tax, attachment point per catastrophe event. As a result, the company has not incurred a reinstatement premium on its catastrophe program.

HIG Hartford Financial
$55.43

0.31 (0.56%)

06/06/17
06/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hartford Financial (HIG) initiated with a Buy at Deutsche Bank. 2. FedEx (FDX) and UPS (UPS) were initiated with a Neutral at Seaport Global. 3. Gardner Denver (GDI) was initiated with an Outperform at William Blair and Baird, an Overweight at Piper Jaffray, a Buy at Stifel, UBS, and Goldman Sachs, as well as a Neutral at Credit Suisse. 4. Solaris Oilfield (SOI) was initiated with an Outperform at Wells Fargo, Oppenheimer, Evercore ISI, and Credit Suisse, an Overweight at Piper Jaffray, as well as a Buy at Goldman Sachs and Wunderlich. 5. LeMaitre (LMAT) initiated with a Hold at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/19/17
DBAB
06/19/17
NO CHANGE
Target $60
DBAB
Buy
Hartford bear case has 'weak premises,' says Deutsche Bank
In a research note titled "Challenging the Bear Case," Deutsche Bank analyst Joshua Shanker argues that the bear case for shares of Hartford Financial has "weak premises." The cases, including a potential material acquisition, the sale of Talcott leading to a material writedown of book value and the company's deferred tax assets having no value, are "insufficient" to hold investors back from buying the shares, Shanker tells investors in a research note. The analyst sees "material" upside potential and keeps a Buy rating on Hartford with a $60 price target.
09/11/17
LEHM
09/11/17
NO CHANGE
LEHM
Irma and Harvey insured losses expected to top $100B, says Barclays
Barclays analyst Jay Gelb notes initial indications are Hurricane Irma's impact on Florida could result in insured losses of up to $60B. Irma will likely be the largest storm to ever impact the U.S., although not as bad as if Miami suffered a direct hit, Gelb tells investors in a research note on the insurance space titled "Devastating Irma Impact on Insurers, But It Could Have Been Worse." All in, Irma and Harvey insured losses are expected to exceed $100B, Gelb points out. He believes the re/insurance stocks could suffer from near-term uncertainty regarding the extent of losses. Of the names he covers, the analyst expects Everest Re (RE), XL Group (XL), RenaissanceRe (RNR), Validus (VR) and Aspen Insurance (AHL) "to take the brunt of Irma losses." Book value declines of more than 20% could require equity capital raises, Gelb contends. He says Chubb (CB), Travelers (TRV) and Hartford Financial (HIG) have relatively less exposure while AIG (AIG) could have greater losses among the primary insurers.
09/11/17
BUCK
09/11/17
INITIATION
Target $63
BUCK
Buy
Hartford Financial initiated with a Buy at Buckingham
Buckingham analyst Amit Kumar initiated Hartford Financial with a Buy and a $63 price target.

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Morgan Stanley

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Carbonite

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JBLU

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  • 24

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  • 18

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PM

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, UNP

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FFKT

Farmers Capital Bank

$53.50

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APC

Anadarko

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HES

Hess Corp.

$64.14

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NBL

Noble Energy

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  • 03

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NDLS

Noodles & Company

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GSBC

Great Southern Bancorp

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OMAB

OMA Airports

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OPTN

Optinose

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T

AT&T

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SBGI

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  • 08

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RUN

Sunrun

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