Sterne Agee Adjusts Hartford Financial Services' Estimates

In a research report published earlier today, Sterne Agee has adjusted its estimates on Hartford Financial Services Group Inc.

to reflect preannounced 1Q12 results. According to Sterne Agee, “Our 1Q12E EPS moves up from prior $0.94 to new $1.28 (includes $0.36 of favorable DAC unlocking). Our 2012E EPS moves from prior $3.52 to new $3.83 driven by the 1Q12 adjustments as well as shift in timing of buybacks. No change to our 2013E EPS of $3.80.” Sterne Agee maintains its Buy rating and $27 PT on Hartford Financial, which closed yesterday at $22.02.