Analyst Elyse Greenspan of Wells Fargo maintained a Buy rating on Hartford Financial (HIG – Research Report), with a price target of $125.00.
Elyse Greenspan has given her Buy rating due to a combination of factors that highlight Hartford Financial’s strong performance in certain areas. The company reported earnings that surpassed both Wells Fargo’s and the Street’s expectations, driven by robust results in Property & Casualty (P&C) and Employee Benefits. Notably, Hartford Financial managed to avoid adding to General Liability reserves, which has been a trend in previous quarters, and this stability is seen as a positive sign.
Additionally, the company demonstrated solid performance in Business Insurance with core reserve releases and a favorable underlying loss ratio. Despite some challenges, such as higher-than-expected catastrophe losses and a miss in net investment income, the overall financial health and strategic management decisions, including share repurchases, support the positive outlook. These elements combined to reinforce the Buy rating, suggesting confidence in Hartford Financial’s ability to maintain strong operational results and shareholder value.
According to TipRanks, Greenspan is a 5-star analyst with an average return of 6.7% and a 59.32% success rate. Greenspan covers the Financial sector, focusing on stocks such as Progressive, Allstate, and American International Group.
In another report released on April 25, Piper Sandler also maintained a Buy rating on the stock with a $145.00 price target.