Seeking Alpha: Hartford Financial Services Largely Performing To Plan

Back in June of 2015, I thought that Hartford's (NYSE:HIG) double-digit discount to fair value and its ongoing self-improvement efforts made it a good name to consider in the insurance space. Since then, the shares are up about 6% - which isn't super, but isn't too bad next to Allstate (NYSE:ALL) or AIG (NYSE:AIG). It also hasn't been a smooth ride, as the shares have been knocked back by worries about rising loss frequency in auto insurance and feeble prospects for near-term rate increases.

With the shares up some and the company performing more or less in line with my expectations, the valuation argument doesn't seem quite as compelling. Hartford does still look like one of the more undervalued companies I pay attention to in the property & casualty space, but that undervaluation comes with lower growth prospects and near-term pricing concerns. While I think the shares still make some sense for more value-inclined investors, it's hard to work up a lot of enthusiasm.

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Hartford Financial Services Largely Performing To Plan