Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

(HIG)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Hartford Financial Services Group Inc : Significant Progress Being Made On Transformation Strategy, The Hartford CEO Says At Shareholders' Meeting

05/16/2013 | 04:30pm EST

P&C, Group Benefits and Mutual Funds performing well, Annuity Runoff business capital self-sufficient

Shareholders approve board of directors, accounting firm and executive compensation

The Hartford is reaching important milestones in its effort to transform the 203-year old firm and deliver greater shareholder value, company Chairman, President and CEO Liam E. McGee said yesterday at the Annual Meeting of Shareholders.

"We entered 2013 as a leading property and casualty company, with a major group benefits business, top-performing mutual funds, and an annuity runoff operation, which we refer to as Talcott Resolution, that is now capital self-sufficient," McGee said. "The Hartford has made significant progress executing the strategy we announced in March of 2012."

The company announced plans in March 2012 to divest its individual life, retirement plans, and broker-dealer operations, as well as to place its annuity business into runoff, thereby exiting the business.

"In important ways The Hartford is a new company, sharply-focused and positioned for profitable growth, with a significantly reduced risk profile," McGee told shareholders.

The Hartford had completed its divestitures by early 2013, and in the first quarter the go-forward businesses delivered core earnings growth of 19 percent compared with the previous year. In the first quarter, the company also announced a two-year $1.5 billion capital management plan that will be accretive to shareholders, and it is now planning the next phase of its capital management program.

"I especially want to thank The Hartford's nearly 20,000 teammates for working so hard and with such passion to successfully execute the company's strategy," McGee said. "We're proud of how much The Hartford has accomplished, while realistic about the work still ahead."

During the business portion of the annual meeting, The Hartford's shareholders voted on the following actions:

  • All of The Hartford's directors were reelected to the Board with an average approval rate exceeding 95 percent of the shares voted at the meeting, excluding abstentions.
  • Shareholders ratified the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm with support from over 95 percent of the shares voted at the meeting.
  • Shareholders also approved the compensation of the company's named executive officers through an advisory vote with support from approximately 84 percent of shares voted at the meeting.

About The Hartford

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

HIG-F

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 Quarterly Reports on Form 10-Q, our 2012 Annual Report on Form 10-K 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.

The Hartford
Media Contacts:
Shannon Lapierre, 860-547-5624
shannon.lapierre@thehartford.com
or
David Collins, 860-547-2251
david.collins@thehartford.com
or
Investor Contacts:
Sabra Purtill, CFA, 860-547-8691
sabra.purtill@thehartford.com
or
Sean Rourke, 860-547-5688
sean.rourke@thehartford.com


ę Business Wire 2013
All news about THE HARTFORD FINANCIAL SERVICES GROUP, INC.
11/30HARTFORD FINANCIAL SERVICES : The Hartford To Participate In The Goldman Sachs 2021 US Fin..
PU
11/30THE HARTFORD FINANCIAL SERVICES GROU : Ex-dividend day for
FA
11/23WALL STREET STOCK EXCHANGE : The Fed cannot stop Covid
11/23ANALYST RECOMMENDATIONS : AbbVie, AIG, CBRE, Stoneco, Vonage...
11/23Goldman Sachs Starts Hartford Financial Services at Buy With $84 Price Target
MT
11/18Jefferies Initiates Coverage of Hartford Financial Services With Hold Rating, $81 Price..
MT
11/09The Hartford To Invest $2.5 Billion Over Five Years To Support Energy Transition
BU
11/06New Connecticut partnership aims to 'make a difference' in opioid crisis
PU
11/05The Hartford Announces Pilot To Train Connecticut Medical Providers On Addiction, Pain ..
BU
11/05The Hartford, Yale School of Medicine partner on addiction, pain management training pr..
PU
More news
Analyst Recommendations on THE HARTFORD FINANCIAL SERVICES GROUP, INC.
More recommendations
Financials (USD)
Sales 2021 21 839 M - -
Net income 2021 2 112 M - -
Net Debt 2021 5 277 M - -
P/E ratio 2021 11,1x
Yield 2021 2,11%
Capitalization 22 681 M 22 681 M -
EV / Sales 2021 1,28x
EV / Sales 2022 1,26x
Nbr of Employees 18 500
Free-Float 88,5%
Chart THE HARTFORD FINANCIAL SERVICES GROUP, INC.
Duration : Period :
The Hartford Financial Services Group, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends THE HARTFORD FINANCIAL SERVICES GROUP, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 66,64 $
Average target price 82,06 $
Spread / Average Target 23,1%
EPS Revisions
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
Sector and Competitors
1st jan.Capi. (M$)
THE HARTFORD FINANCIAL SERVICES GROUP, INC.32.65%22 681
ALLIANZ SE-1.16%91 466
MARSH & MCLENNAN COMPANIES, INC.39.95%84 716
CHUBB LIMITED13.79%78 162
ZURICH INSURANCE GROUP LTD3.21%62 280
BAJAJ FINSERV LIMITED99.39%36 985