The Hartford Financial Services Group, Inc. (HIG) 10-Year Financial Performance & Capital Metrics

HIG • • Insurance & Managed Care

Financial ServicesDiversified InsuranceMulti-Line InsuranceRegional Multi-Line Insurers

AboutThe Hartford Financial Services Group, Inc. provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers. The company's Personal Lines segment provides automobile, homeowners, and personal umbrella coverages through direct-to-consumer channel and independent agents. Its Property & Casualty Other Operations segment offers coverage for asbestos and environmental exposures. The company's Group Benefits segment provides group life, disability, and other group coverages to members of employer groups, associations, and affinity groups through direct insurance policies; reinsurance to other insurance companies; employer paid and voluntary product coverages; disability underwriting, administration, and claims processing to self-funded employer plans; and a single-company leave management solution. This segment distributes its group insurance products and services through brokers, consultants, third-party administrators, trade associations, and private exchanges. Its Hartford Funds segment offers investment products for retail and retirement accounts; exchange-traded products through broker-dealer organizations, independent financial advisers, defined contribution plans, financial consultants, bank trust groups, and registered investment advisers; and investment management and administrative services, such as product design, implementation, and oversight. The company was founded in 1810 and is headquartered in Hartford, Connecticut.Show more

Revenue $26.38B +8.4%
Combined Ratio 85.41% -2.2%
Net Income $3.11B +24.2%
Return on Equity 19.58% +13.2%
Medical Cost Ratio 84.95% -2.3%
Operating Margin 14.59% +14.9%
Net Margin 11.79% +14.6%
ROA 4.12% +17.7%
Equity / Assets 20.33% -7.0%
Book Value per Share 55.08 +11.9%
Tangible BV/Share 46.55 +14.1%
Debt/Equity 0.27 -6.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 85.4% combined ratio
✓Strong Piotroski F-Score: 8/9
✓14 consecutive years of dividend growth
✓Good 3Y average ROE of 16.1%
✓Share count reduced 4.1% through buybacks

✗Weaknesses

✗High loss ratio of 85.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.55%

5Y5.17%

3Y6.82%

TTM6.94%

Profit (Net Income) CAGR

10Y14.57%

5Y8.33%

3Y9.48%

TTM17.46%

EPS CAGR

10Y19.59%

5Y12.63%

3Y16.06%

TTM22.4%

ROCE

10Y Avg4.82%

5Y Avg4.48%

3Y Avg5.21%

Latest6.68%

Peer Comparison

Regional Multi-Line Insurers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GSHDGoosehead Insurance, Inc	1.8B	72.10	62.16	20.37%	8.55%	108.93%	3.93%	3.93
ORIOld Republic International Corporation	10.69B	43.32	13.37	13.41%	9.53%	12.95%	11.54%	0.28
HIGThe Hartford Financial Services Group, Inc.	36.49B	130.82	12.64	8.44%	12.84%	19.28%	15.8%	0.27
AIZNAssurant, Inc. 5.25% Subordinat	1.03B	20.17	1.39	6.7%	6.75%	14.74%	100%	0.41

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	16B	16.29B	17.16B	18.75B	20.51B	20.32B	21.65B	21.85B	24.33B	26.38B
Revenue Growth %	-0.14%	0.02%	0.05%	0.09%	0.09%	-0.01%	0.07%	0.01%	0.11%	0.08%
Medical Costs & Claims+	14.15B	15.51B	16.11B	16.83B	17.77B	17.99B	19.18B	19.8B	21.16B	22.41B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	1.85B	778M	1.05B	1.92B	2.74B	2.33B	2.47B	2.05B	3.17B	3.97B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.11%	-0.58%	0.35%	0.82%	0.43%	-0.15%	0.06%	-0.17%	0.54%	0.25%
Operating Expenses+	371M	331M	330M	167M	183M	209M	-435M	-211M	79M	121M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	373M	398M	399M	467M	451M	562M	680M	625M	510M	356M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.48B	447M	723M	1.75B	2.56B	2.12B	2.9B	2.26B	3.09B	3.85B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.13%	-0.7%	0.62%	1.42%	0.46%	-0.17%	0.37%	-0.22%	0.37%	0.25%
EBITDA+	1.85B	845M	1.12B	2.22B	3.01B	2.68B	3.58B	2.89B	3.6B	4.21B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	346M	327M	316M	298M	259M	236M	234M	213M	199M	199M
Non-Operating Income	-346M	-327M	-316M	-298M	-259M	0	0	0	0	0
Pretax Income+	1.48B	447M	723M	1.75B	2.56B	2.12B	2.9B	2.26B	3.09B	3.85B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	289M	-166M	985M	268M	475M	383M	534M	443M	584M	738M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.68B	896M	-3.13B	1.81B	2.08B	1.74B	2.37B	1.82B	2.5B	3.11B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.11%	-0.47%	-4.49%	1.58%	0.15%	-0.17%	0.36%	-0.23%	0.38%	0.24%
EPS (Diluted)+	3.96	2.27	-8.45	4.96	5.71	4.76	6.62	5.44	7.97	10.35
EPS Growth %	1.29%	-0.43%	-4.72%	1.59%	0.15%	-0.17%	0.39%	-0.18%	0.47%	0.3%
EPS (Basic)	4.05	2.31	-8.61	5.04	5.78	4.79	6.71	5.52	8.09	10.51
Diluted Shares Outstanding	425.2M	394.8M	370.5M	364.1M	364.9M	360.6M	354.1M	329.5M	311.5M	298.6M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	228.35B	223.43B	225.26B	62.31B	70.82B	74.11B	76.58B	73.02B	70.1B	80.92B
Asset Growth %	-0.07%	-0.02%	0.01%	-0.72%	0.14%	0.05%	0.03%	-0.05%	-0.04%	0.15%
Total Investment Assets+	127.7B	70.64B	82.12B	47.18B	53.03B	56.53B	57.75B	50.26B	4.98B	59.21B
Long-Term Investments	65.54B	36.76B	41.88B	42.89B	48.48B	51.84B	52.15B	46.4B	4.98B	55.14B
Short-Term Investments	62.16B	1.1B	40.25B	4.28B	45.07B	48.32B	46.54B	3.86B	0	4.07B
Total Current Assets+	2.29B	4.13B	49.24B	39.77B	0	0	0	52.23B	11.55B	10.25B
Cash & Equivalents	448M	882M	180M	121M	185M	151M	205M	229M	126M	183M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	-2.81B	-1.58B	839M	27.01B	-55.16B	-58.75B	-57.72B	36.23B	-1.29B	0
Goodwill & Intangibles+	2.31B	611M	1.95B	1.95B	2.98B	2.86B	2.77B	2.69B	2.62B	2.55B
Goodwill	498M	567M	1.29B	1.29B	1.91B	1.91B	1.91B	1.91B	1.91B	1.91B
Intangible Assets	1.82B	44M	659M	657M	1.07B	950M	858M	778M	707M	637M
PP&E (Net)	974M	991M	1.03B	1.01B	1.18B	1.12B	1.03B	927M	896M	888M
Other Assets	155.84B	151.37B	130B	-24.56B	-52.65B	-55.82B	-55.95B	-1.45B	48.46B	-55.14B
Total Liabilities	210.71B	206.53B	211.77B	49.21B	54.55B	55.55B	58.73B	59.39B	54.77B	64.47B
Total Debt+	5.36B	5.05B	5B	4.68B	4.85B	4.35B	4.94B	4.36B	4.36B	4.37B
Net Debt	4.91B	4.17B	4.82B	4.56B	4.66B	4.2B	4.74B	4.13B	4.24B	4.18B
Long-Term Debt	5.08B	4.49B	4.68B	4.26B	4.35B	4.35B	4.94B	4.36B	4.36B	4.37B
Short-Term Debt	275M	416M	320M	413M	500M	0	0	0	0	0
Total Current Liabilities+	205.62B	203.18B	207.09B	44.94B	0	0	0	2.11B	35.21B	614M
Accounts Payable	31.67B	31.18B	816M	767M	0	0	0	658M	0	614M
Deferred Revenue	0	0	0	0	0	0	0	1.45B	0	0
Other Current Liabilities	173.68B	171.59B	205.95B	43.76B	-500M	0	0	0	35.21B	0
Deferred Taxes	1000K	0	0	0	0	0	0	0	1000K	0
Other Liabilities	-5.08B	0	0	0	-4.35B	-4.35B	-4.94B	52.93B	13.78B	59.49B
Total Equity+	17.64B	16.9B	13.49B	13.1B	16.27B	18.56B	17.84B	13.63B	15.33B	16.45B
Equity Growth %	-0.06%	-0.04%	-0.2%	-0.03%	0.24%	0.14%	-0.04%	-0.24%	0.12%	0.07%
Shareholders Equity	17.64B	16.9B	13.49B	13.1B	16.27B	18.56B	17.84B	13.63B	15.33B	16.45B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	12.55B	13.11B	9.64B	11.05B	12.69B	13.92B	15.76B	17.05B	19.01B	21.53B
Common Stock	5M	4M	4M	4M	4M	4M	4M	3M	3M	3M
Accumulated OCI	-329M	-337M	663M	-1.58B	52M	1.17B	172M	-3.88B	-2.85B	-2.89B
Return on Equity (ROE)	0.09%	0.05%	-0.21%	0.14%	0.14%	0.1%	0.13%	0.12%	0.17%	0.2%
Return on Assets (ROA)	0.01%	0%	-0.01%	0.01%	0.03%	0.02%	0.03%	0.02%	0.03%	0.04%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.30x	0.30x	0.37x	0.36x	0.30x	0.23x	0.28x	0.32x	0.28x	0.27x
Book Value per Share	41.49	42.81	36.42	35.98	44.59	51.46	50.39	41.37	49.20	55.08
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.76B	2.07B	2.19B	2.84B	3.49B	3.87B	4.09B	4.01B	4.22B	5.91B
Operating CF Growth %	0.46%	-0.25%	0.06%	0.3%	0.23%	0.11%	0.06%	-0.02%	0.05%	0.4%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.68B	896M	-3.13B	1.81B	2.08B	1.74B	2.37B	1.81B	2.5B	3.11B
Depreciation & Amortization	373M	398M	399M	467M	451M	562M	680M	625M	510M	356M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	436M	579M	4.33B	415M	-242M	218M	-705M	630M	286M	264M
Working Capital Changes	265M	193M	583M	154M	1.2B	1.35B	1.75B	934M	920M	2.18B
Cash from Investing+	485M	949M	-1.43B	-1.43B	-2.15B	-2.12B	-2.41B	-1.28B	-2.43B	-3.77B
Capital Expenditures	-307M	-224M	-250M	-122M	-105M	-114M	-133M	-175M	-215M	-145M
Acquisitions	4M	163M	-1.2B	1.11B	-1.97B	0	11M	-746M	-671M	-426M
Purchase of Investments	-29.62B	-24.22B	-33.62B	-29.82B	-21.2B	-24.2B	-27.3B	-16B	-10.49B	-14.2B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-107M	-199M	38M	534M	-455M	-59M	-111M	-619M	-40M	-292M
Cash from Financing+	-3.14B	-2.54B	-979M	-1.47B	-1.19B	-1.78B	-1.58B	-2.71B	-1.95B	-2.08B
Dividends Paid	-316M	-334M	-341M	-379M	-454M	-478M	-506M	-527M	-549M	-577M
Share Repurchases	-1.25B	-1.33B	-1.03B	0	-200M	-150M	-1.7B	-1.55B	-1.4B	-1.51B
Stock Issued	0	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	0	0
Other Financing	-1.28B	-585M	319M	-1.08B	-330M	-650M	39M	-33M	2M	15M
Net Change in Cash+	49M	434M	-148M	-59M	141M	-23M	98M	7M	-155M	45M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	399M	448M	328M	180M	121M	262M	239M	337M	344M	189M
Cash at End	448M	882M	180M	121M	262M	239M	337M	344M	189M	234M
Free Cash Flow+	2.45B	1.84B	1.94B	2.72B	3.38B	3.76B	3.96B	3.83B	4B	5.76B
FCF Growth %	0.39%	-0.25%	0.05%	0.41%	0.24%	0.11%	0.05%	-0.03%	0.04%	0.44%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	5.76	4.67	5.23	7.47	9.27	10.42	11.18	11.63	12.86	19.3

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	90.76%	97.26%	95.79%	90.65%	87.52%	89.57%	86.58%	89.65%	87.31%	85.41%
Medical Cost Ratio	88.44%	95.22%	93.86%	89.76%	86.62%	88.54%	88.59%	90.61%	86.98%	84.95%
Return on Equity (ROE)	9.25%	5.19%	-20.6%	13.59%	14.2%	9.98%	13.03%	11.56%	17.29%	19.58%
Return on Assets (ROA)	0.71%	0.4%	-1.4%	1.26%	3.13%	2.4%	3.15%	2.43%	3.5%	4.12%
Equity / Assets	7.73%	7.57%	5.99%	21.03%	22.97%	25.04%	23.3%	18.67%	21.87%	20.33%
Book Value / Share	41.49	42.81	36.42	35.98	44.59	51.46	50.39	41.37	49.2	55.08
Debt / Equity	0.30x	0.30x	0.37x	0.36x	0.30x	0.23x	0.28x	0.32x	0.28x	0.27x
Revenue Growth	-14.06%	1.84%	5.35%	9.25%	9.38%	-0.92%	6.54%	0.95%	11.33%	8.44%

Revenue by Segment

	2011	2012	2013	2022
Property, Liability and Casualty Insurance Product Line	-	-	-	229M
Property, Liability and Casualty Insurance Product Line Growth	-	-	-	-
Group Life and Accident	6.37B	5.88B	5.21B	-
Group Life and Accident Growth	-	-7.54%	-11.50%	-
Automobiles Commercial	3.2B	3.11B	3.1B	-
Automobiles Commercial Growth	-	-2.78%	-0.39%	-
Workers Compensation	2.81B	2.99B	2.98B	-
Workers Compensation Growth	-	6.34%	-0.40%	-
Group Disability	1.93B	1.74B	1.45B	-
Group Disability Growth	-	-10.06%	-16.31%	-
Package Business	1.15B	1.16B	1.14B	-
Package Business Growth	-	1.31%	-1.81%	-
Homeowners	1.13B	1.11B	1.14B	-
Homeowners Growth	-	-1.60%	2.52%	-
Mutual Funds	649M	599M	678M	-
Mutual Funds Growth	-	-7.70%	13.19%	-
Liability	540M	562M	566M	-
Liability Growth	-	4.07%	0.71%	-
Property	528M	505M	521M	-
Property Growth	-	-4.36%	3.17%	-
Professional Liability	307M	253M	222M	-
Professional Liability Growth	-	-17.59%	-12.25%	-

Revenue by Geography

	2011	2012	2013	2022
UNITED STATES	21.56B	21.81B	20.69B	-
UNITED STATES Growth	-	1.17%	-5.16%	-
JAPAN	135M	4.36B	5.55B	-
JAPAN Growth	-	3131.85%	27.16%	-

Frequently Asked Questions

Valuation & Price

The Hartford Financial Services Group, Inc. (HIG) has a price-to-earnings (P/E) ratio of 12.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

The Hartford Financial Services Group, Inc. (HIG) grew revenue by 8.4% over the past year. This is steady growth.

Yes, The Hartford Financial Services Group, Inc. (HIG) is profitable, generating $3.56B in net income for fiscal year 2024 (11.8% net margin).

Dividend & Returns

Yes, The Hartford Financial Services Group, Inc. (HIG) pays a dividend with a yield of 1.42%. This makes it attractive for income-focused investors.

The Hartford Financial Services Group, Inc. (HIG) has a return on equity (ROE) of 19.6%. This is reasonable for most industries.

Industry Metrics

The Hartford Financial Services Group, Inc. (HIG) has a combined ratio of 85.4%. A ratio below 100% indicates underwriting profitability.

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