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THE HARTFORD FINANCIAL SERVICES GROUP, INC.

(HIG)
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The Hartford : Announces $1 Million Scholarship Fund For UConn Hartford Students

09/23/2021 | 08:02am EDT

Company creates The Hartford Scholars Program to allow 50 students to attend tuition-free for all four years

The Hartford has committed $1 million to provide funding for 50 UConn Hartford students who are residents of the City of Hartford. The funding will cover the gap between a student’s existing financial aid package and the remaining tuition amount, allowing them to attend UConn Hartford tuition-free for all four years. Starting this semester, The Hartford will fund the scholars, as identified by The University of Connecticut’s Division of Enrollment Planning and Management, in two groups – 25 first-year students in 2021, and an additional 25 first-year students in 2022.

“We are proud to support incoming students in our namesake city as they begin their studies at UConn Hartford,” said The Hartford’s President Doug Elliot. “This new commitment builds on our enduring legacy of community engagement in the City of Hartford as we strive to advance equal economic, educational and workplace opportunities. We recognize that equitable access to a quality education can be a critical component to future success and look forward to mentoring The Hartford Scholars as they chart a course to accomplish their goals.”

Mark Overmyer-Velázquez, Ph.D., director of UConn Hartford said, “UConn Hartford extends our sincerest appreciation to our neighbor in the city, The Hartford, for their generous gift and meaningful partnership. The Hartford Scholars Program will ultimately provide support and mentoring opportunities to 50 students who live in the City of Hartford and attend the UConn Hartford campus. By supporting UConn Hartford — where first-generation college students and students of color represent the majority of the student population — The Hartford’s partnership demonstrates the company’s commitment to positive change in the City of Hartford and an understanding of the importance of higher education in expanding opportunity for the youth in our community. UConn Hartford is proud to partner with The Hartford in this worthy endeavor.”

The scholars must be residents of the City of Hartford and demonstrate a financial need. Scholarships for tuition and fees will be renewable for four years. Each student will also receive a set allowance for other expenses, such as books and transportation. In addition to financial support, The Hartford will provide mentorship opportunities, unique group experiences and interactions with the company and its employees, and utilize its existing resources for professional development. The new scholarship fund builds on a longstanding partnership with the University of Connecticut, which includes internships, research and recruiting.

“I am beyond thankful for this opportunity. Being named a scholar gives me a push to keep doing whatever I need to do to succeed,” said Cesar Carreno, a first-year UConn Hartford student who was born and raised in the City of Hartford and is one of The Hartford Scholars. “The financial support also means that I can rearrange my schedule so that I don’t have to work as much, so I can focus more on my education and have more time to study.”

The Hartford’s Commitment To City of Hartford

The $1 million donation announced today is part of a broader commitment by The Hartford to advance equitable access to economic, educational and workforce opportunities for residents in the City of Hartford. Last year, the company made a $10 million, 5-year commitment to the Asylum Hill neighborhood to address top priorities identified by residents and non-profits through The Hartford’s Asylum Hill Neighborhood Survey. Earlier this year, The Hartford announced a $1 million grant to make affordable homeownership more accessible in the Asylum Hill Neighborhood.

About The Hartford

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com. Follow us on Twitter at @TheHartford_PR.

The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.

HIG-C

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2020 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website and/or social media outlets, such as Twitter and Facebook, to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com, Twitter account at www.twitter.com/TheHartford_PR and Facebook at https://facebook.com/thehartford. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.


ę Business Wire 2021
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Financials (USD)
Sales 2021 21 431 M - -
Net income 2021 2 019 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,0x
Yield 2021 2,02%
Capitalization 24 095 M 24 095 M -
Capi. / Sales 2021 1,12x
Capi. / Sales 2022 1,10x
Nbr of Employees 18 500
Free-Float 90,3%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 69,40 $
Average target price 77,00 $
Spread / Average Target 11,0%
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Managers and Directors
Christopher J. Swift Chairman & Chief Executive Officer
Douglas G. Elliot President
Beth Ann Costello Chief Financial Officer & Executive VP
Deepa Soni Chief Information Officer & Head-Technology & Data
Amy Stepnowski Chief Investment Officer
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