According to Sterne Agee, Hartford Financial Services HIG $1.16 of reported EPS should be viewed as $0.98 ex. items ($0.12 favorable DAC, $0.07 favorable PY development, and $0.01 expense item in Group Benefits) modestly ahead of our core $0.94 and consensus $0.95.
Sterne Agee said that, “Our 2011 moves from $3.89 to $4.07 reflecting 1Q11 beat. 2012 unchanged at $3.96. PT remains $32, based on 8x blend of 2011/12 EPS.”
Hartford Financial Services closed yesterday at $28.82.
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Posted In: Analyst ColorAnalyst RatingsFinancialsHartford Financial Services Group Inc.Multi-line InsuranceSterne Agee
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