The Hartford: 4Q Earnings Snapshot
HARTFORD, Conn. (AP) _ The Hartford Financial Services Group Inc. (HIG) on Monday reported fourth-quarter net income of $196 million, after reporting a loss in the same period a year earlier.
The Hartford, Connecticut-based company said it had net income of 52 cents per share. Earnings, adjusted for non-recurring costs, came to 78 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The insurance and financial services company posted revenue of $4.63 billion in the period. Its adjusted revenue was $4.81 billion.
For the year, the company reported net income of $1.81 billion, or $4.95 per share, swinging to a profit in the period. Revenue was reported as $19.07 billion.
The Hartford shares have increased 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 9 percent. In the final minutes of trading on Monday, shares hit $47.16, a drop of 19 percent in the last 12 months.