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. (NYSE: HIG) 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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.