An insurance and financial services company. The Company, through its subsidiaries, provides investment products, individual life, group life and group disability insurance products, and property and casualty insurance products in United States.
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I'm bargain hunting after the volitility the past month. Hartford Financial Services is 30% down from it's February 52 week high. While this could mean it was over priced in February, or it could mean conditions have drastically decayed, I don't see signs of either case other than typical weather related issues. True, the hurricane season is early, but so far seems quiet. Hopefully this will offset the tornados this summer that while within statistical norm, their effect on more populated areas was near records. Insurance company's are hedged and carry reserves. While they would rather not use them, if they are well run, single disasters will not have lasting effects. While there are still some liabilities outstanding Hartford Financial Services is priced for a firesale. The book value is now much less than one, (or even) at 0.49. The P/S shows strength at 0.43. Margins are in the 10% range and Hartford Financial has tremendous positive cash flow on solid income. (Income was $500 Million PLUS each of the last three quarters). Hartford Financial Services was really hurt by the 2007-2008 meltdown and played some unnecesary games with regulators, (bank holding company) to have access to funds it didn't need. It has a few more adjustments to make, but overall it's not the disaster it looked like back in 2007-2008 and it's not a disaster waiting to happen from natural occurances. Hartford deserves a break now, much moreso than it did in February when it was trading closer to book value. I'd like to see the dividend start back up again as Hartford and most insurers are known for stability and income. Currently there is plenty of margin to start increasing it again and then maybe it will start to show signs of it's former success.