A year ago, I was somewhat skeptical about Hartford's (NYSE:HIG) decision to transition out of its traditional life insurance and annuity businesses and towards a greater focus on P&C. While I thought the stock was cheap on a long-term ROE
basis, I didn't expect the nearly 90% increase in the share price, nor
the rapid pace of improvement in the company's legacy and going-forward
operations. While the shares now have more average long-term potential
on a ROE basis, there could still be upside left for these shares if
Wall Street elects to value these shares more in line with other P&C
companies with similar return characteristics.
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