Hartford Financial Services Group Inc (NYSE:HIG) announced on Thursday that its first-quarter results will comprise a $600M charge as the insurer hedges risks from savings products sold to Japanese investors.
According to a statement today from Hartford, based in the Connecticut city of the similar name, the insurer will protector alongside fluctuations in currency valuations stock markets.
CEO Liam McGee is seeking to reduced risks following the insurer stopped selling the savings products recognized as annuities and focused on property-casualty coverage to increased Hartford’s shares. The insurer is slated to give a presentation to investors today on U.S. and Japanese annuities.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes MBIA Inc. (NYSE:MBI) lost -1.69%, Partnerre Ltd (NYSE:PRE) edged up +0.59%, ACE Limited (NYSE:ACE) which also increased +1.07% and First American Financial Corp (NYSE:FAF) closed up +2.90%.
Hartford Financial Services Group Inc (NYSE:HIG) stock’s trade at beginning with a price of $27.40 and throughout the trading session climbed at a high of $28.12 other than when day-trade ended the stock finally advanced +1.33% to $27.38.
The stock is going forward its 52 week low with 77.49% and looking forward from its 52 week high price with 0.85%. HIG last month stock price volatility remained 2.32%.
HIG stock institutional ownership remained 96.16% while insider ownership included 0.03%. In its share capital HIG has 436.60 million outstanding shares among them 420.83 million shares have been floated in market exchange.
Company’s beta coefficient included 3.08. Beta factors measures the amount of market risk associated with market trade.
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