Hartford Financial Services is a big insurer and HIG's stock is just going down and down and... As of now, the stock is right at the top of the down-trend channel. This tells me that the stock is likely to fall because of the resistance exercised by the trend. It would be very surprising to see this stock just reverse the pattern and get back to higher price levels quickly. The stock has lost more than 25% since the start of the year and that is bearish. The p/e is low and I don't like it for a short candidate but, the sector is not in great shape and next quarter earnings are expected ...
Losses on P&C business should increase in line with recessionary trends in the US, especially on their "main street" business. Life profits are driven by VAs, for which they should be hammered on increased DAC amortization and falling asset management fees. Overall, margins will be squeezed by the 2008 US recession....
At least Buffett in his annual commentary on Berkshire gave credit where credit was due..."Our most important business, insurance, benefited from a large dose of luck: Mother Nature, bless her heart, went on vacation. After hammering us with hurricanes in 2004 and 2005-storms that caused us to lose a bundle on super-cat insurance-she just vanished."
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HIG
HIG
About The Hartford Financial Services Group Inc.
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