NYSE$HIG
The Hartford Financial Services Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
The Hartford's Q2 2024 financial results were announced, showcasing significant growth in net income and core earnings, driven by strong performance in Commercial Lines, Personal Lines, and Group Benefits.
The Hartford reported outstanding second-quarter 2024 financial results, with a 35% increase in net income available to common stockholders, reaching $733 million, and a 28% increase in core earnings, totaling $750 million. The company's performance was driven by strong growth in P&C written premiums, an improved combined ratio in Commercial Lines, and a stellar core earnings margin in Group Benefits. A new $3.3 billion share repurchase program was authorized, effective from August 1, 2024, through the end of 2026.
- Net income available to common stockholders increased by 35% to $733 million, or $2.44 per diluted share.
- Core earnings increased by 28% to $750 million, or $2.50 per diluted share.
- P&C written premiums rose by 12%, driven by Commercial Lines and Personal Lines premium growth.
- The Board of Directors authorized a new $3.3 billion share repurchase program.
Headline financials
Revenue & EPS history
The Hartford · Revenue · Quarterly
$6.49B
Revenue by segment
The Hartford · $248M total across 1 segment · Q3 2023
- Hartford Funds$248M+0.4%100.0%
Forward guidance
The Hartford did not provide specific forward guidance in this earnings report. The report highlights the company's confidence in its ability to continue growing the franchise and enhancing shareholder value.
Tailwinds
- Commercial Lines maintained robust top-line growth at highly profitable margins.
- Personal Lines continues to make great strides towards restoring target profitability in auto.
- Group Benefits achieved a stellar 10 percent core earnings margin during the quarter.
- Pricing, excluding workers’ compensation, accelerated to 9.5 percent in the quarter and remains above loss cost trends.
- Personal Lines achieved written price increases in auto of nearly 24 percent.
Headwinds
- Increase in severity in auto and homeowners as expected.
- Lower effective policy count retention, driven by auto, due to renewal written price increases.
- Fully insured ongoing sales were $101 million in second quarter 2024, compared with $151 million in second quarter 2023, driven by lower group disability and group life sales.
- Mutual fund and ETF net outflows totaled $1.1 billion in second quarter 2024, compared with net outflows of $1.3 billion in second quarter 2023.
- Lower income from limited partnerships and other alternative investments (LPs).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.1%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.7%
Avg return
30 days after
44%
32 / 73 earnings
Positive
+7.8%
Q3 2010
Best reaction
-9.0%
Q2 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.2% | -2.1% | -2.5% | |
| Q4 2025 | +3.9% | +6.4% | +6.4% | |
| Q3 2025 | -1.8% | -0.6% | +9.9% | |
| Q2 2025 | +2.8% | +1.5% | +9.1% | |
| Q1 2025 | -0.4% | +2.9% | +8.1% | |
| Q4 2024 | -2.4% | -0.6% | +3.5% | |
| Q3 2024 | -6.3% | -6.4% | +0.7% | |
| Q2 2024 | +7.5% | +9.7% | +10.5% | |
| Q1 2024 | -4.6% | -3.0% | +1.4% | |
| Q4 2023 | +3.9% | +3.2% | +8.6% | |
| Q3 2023 | -2.1% | +2.2% | +8.7% | |
| Q2 2023 | -4.5% | -4.9% | -5.1% | |
| Q1 2023 | +3.7% | +3.0% | +0.3% | |
| Q4 2022 | -1.7% | +0.3% | +1.9% | |
| Q3 2022 | +4.2% | +6.5% | +9.7% | |
| Q2 2022 | +0.2% | -2.1% | +2.9% | |
| Q1 2022 | -0.1% | +1.0% | +3.9% | |
| Q4 2021 | -3.6% | -0.5% | -7.7% | |
| Q3 2021 | +0.2% | -0.0% | -4.9% | |
| Q2 2021 | +2.1% | +4.1% | +10.1% | |
| Q1 2021 | +1.3% | +3.0% | -3.0% | |
| Q4 2020 | +2.0% | +1.6% | +8.5% | |
| Q3 2020 | +3.1% | +5.8% | +22.7% | |
| Q2 2020 | +2.1% | -2.1% | +0.2% | |
| Q1 2020 | -3.4% | -10.0% | -2.7% | |
| Q4 2019 | -2.6% | +0.9% | -9.1% | |
| Q3 2019 | +5.0% | +6.2% | +5.7% | |
| Q2 2019 | -0.3% | -0.0% | +1.1% | |
| Q1 2019 | -0.3% | +0.5% | +0.7% | |
| Q4 2018 | +2.8% | +1.9% | +3.1% | |
| Q3 2018 | +0.5% | +0.5% | -1.8% | |
| Q2 2018 | -0.7% | +0.6% | -4.5% | |
| Q1 2018 | +5.3% | +4.0% | +2.1% | |
| Q4 2017 | -3.4% | -3.4% | +0.5% | |
| Q3 2017 | -2.9% | -2.3% | -1.3% | |
| Q2 2017 | +3.0% | +4.7% | +3.4% | |
| Q1 2017 | +0.5% | +1.4% | +2.3% | |
| Q4 2016 | -2.3% | -2.3% | +1.5% | |
| Q3 2016 | +1.9% | +1.6% | +10.2% | |
| Q2 2016 | -9.0% | -8.4% | -9.0% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | +4.1% | — | — | |
| Q3 2015 | -7.9% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | -1.1% | — | — | |
| Q4 2014 | +1.9% | — | — | |
| Q3 2014 | +3.3% | — | — | |
| Q2 2014 | -2.7% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | -1.3% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | -2.6% | — | — | |
| Q1 2013 | +3.6% | — | — | |
| Q4 2012 | -3.3% | — | — | |
| Q3 2012 | -2.1% | — | — | |
| Q2 2012 | -1.8% | — | — | |
| Q1 2012 | -4.5% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q2 2011 | -4.4% | — | — | |
| Q1 2011 | +3.5% | — | — | |
| Q4 2009 | -2.2% | — | — | |
| Q4 2010 | -2.2% | — | — | |
| Q4 2008 | -2.2% | — | — | |
| Q4 2007 | -2.2% | — | — | |
| Q3 2010 | +7.8% | — | — | |
| Q2 2010 | -3.2% | — | — | |
| Q1 2009 | -1.2% | — | — | |
| Q1 2010 | +3.0% | — | — | |
| Q3 2009 | -1.5% | — | — | |
| Q3 2008 | -1.5% | — | — | |
| Q2 2008 | +4.5% | — | — | |
| Q2 2009 | +4.5% | — | — |
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