Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of insurance and financial services provider Hartford Financial Services
So what: Results for the fourth quarter highlighted an adjusted profit of $0.69, which handily surpassed Wall Street's expectations for a profit of $0.59. However, net income was down significantly over the year-ago period as Hartford was forced to shore up its loss reserves. On the bright side, pricing in its commercial property division is improving.
Now what: The real story here is that no one expected Hartford's results to be very good -- and they turned out to better than expected. While Hartford hasn't exactly inspired the bulls to buy en masse, at just six times forward earnings the stock merits further consideration. The entire insurance sector is beginning to pique my interest because of its cheap valuation, and we can easily add Hartford to that list.
Craving more input? Start by adding Hartford Financial Services to your free and personalized watchlist so you can keep track of the latest news with the company.
