NYSE: HIG
The Hartford
Financials · Fire, Marine & Casualty Insurance
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$32.7B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $17.6B |
| FY2017, ended Dec 31, 2017 | $20.1B |
| FY2018, ended Dec 31, 2018 | $16.0B |
| FY2019, ended Dec 31, 2019 | $21.8B |
| FY2020, ended Dec 31, 2020 | $17.5B |
| FY2021, ended Dec 31, 2021 | $22.9B |
| FY2022, ended Dec 31, 2022 | $23.7B |
| FY2023, ended Dec 31, 2023 | $23.9B |
| FY2024, ended Dec 31, 2024 | $31.2B |
| FY2025, ended Dec 31, 2025 | $38.0B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $32.7B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$29.6B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $16.3B |
| FY2017, ended Dec 31, 2017 | $17.2B |
| FY2018, ended Dec 31, 2018 | $19.0B |
| FY2019, ended Dec 31, 2019 | $20.7B |
| FY2020, ended Dec 31, 2020 | $20.5B |
| FY2021, ended Dec 31, 2021 | $22.4B |
| FY2022, ended Dec 31, 2022 | $22.4B |
| FY2023, ended Dec 31, 2023 | $24.5B |
| FY2024, ended Dec 31, 2024 | $26.5B |
| FY2025, ended Dec 31, 2025 | $28.4B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $29.6B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $896M | $1.84B |
| FY2017, ended Dec 31, 2017 | −$3.13B | $1.94B |
| FY2018, ended Dec 31, 2018 | $1.81B | $2.72B |
| FY2019, ended Dec 31, 2019 | $2.08B | $3.38B |
| FY2020, ended Dec 31, 2020 | $1.74B | $3.76B |
| FY2021, ended Dec 31, 2021 | $2.37B | $3.96B |
| FY2022, ended Dec 31, 2022 | $1.82B | $3.83B |
| FY2023, ended Dec 31, 2023 | $2.50B | $4.00B |
| FY2024, ended Dec 31, 2024 | $3.11B | $5.76B |
| FY2025, ended Dec 31, 2025 | $3.84B | $5.75B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $4.61B | — |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$178M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $328M |
| FY2017, ended Dec 31, 2017 | $180M |
| FY2018, ended Dec 31, 2018 | $121M |
| FY2019, ended Dec 31, 2019 | $262M |
| FY2020, ended Dec 31, 2020 | $239M |
| FY2021, ended Dec 31, 2021 | $337M |
| FY2022, ended Dec 31, 2022 | $344M |
| FY2023, ended Dec 31, 2023 | $189M |
| FY2024, ended Dec 31, 2024 | $234M |
| FY2025, ended Dec 31, 2025 | $166M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $178M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$4.38B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $4.91B |
| FY2017, ended Dec 31, 2017 | $5.00B |
| FY2018, ended Dec 31, 2018 | $4.68B |
| FY2019, ended Dec 31, 2019 | $4.85B |
| FY2020, ended Dec 31, 2020 | $4.35B |
| FY2021, ended Dec 31, 2021 | $4.94B |
| FY2022, ended Dec 31, 2022 | $4.36B |
| FY2023, ended Dec 31, 2023 | $4.36B |
| FY2024, ended Dec 31, 2024 | $4.37B |
| FY2025, ended Dec 31, 2025 | $4.37B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $4.38B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 27.8% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.267M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 370M |
| FY2017, ended Dec 31, 2017 | 357M |
| FY2018, ended Dec 31, 2018 | 359M |
| FY2019, ended Dec 31, 2019 | 358M |
| FY2020, ended Dec 31, 2020 | 358M |
| FY2021, ended Dec 31, 2021 | 332M |
| FY2022, ended Dec 31, 2022 | 313M |
| FY2023, ended Dec 31, 2023 | 297M |
| FY2024, ended Dec 31, 2024 | 285M |
| FY2025, ended Dec 31, 2025 | 276M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 267M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $1.79B more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $1.33B | $81.0M |
| FY2017, ended Dec 31, 2017 | $1.03B | $116M |
| FY2018, ended Dec 31, 2018 | $0 | $130M |
| FY2019, ended Dec 31, 2019 | $200M | $125M |
| FY2020, ended Dec 31, 2020 | $150M | $116M |
| FY2021, ended Dec 31, 2021 | $1.70B | $128M |
| FY2022, ended Dec 31, 2022 | $1.55B | $131M |
| FY2023, ended Dec 31, 2023 | $1.40B | $125M |
| FY2024, ended Dec 31, 2024 | $1.51B | $133M |
| FY2025, ended Dec 31, 2025 | $1.61B | $141M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.79B | — |
Revenue (TTM)
$29.6B
+9.2% YoY
Net income (TTM)
$4.61B
+29.5% YoY
Cash
$178M
−13.6% YoY
Total debt
$4.38B
+0.1% YoY
Valuation
At current price- Market Cap
- $35.5B
- P/E
- 7.7×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.2×
- Price / Book
- 1.9×
- EV / EBITDA
- 6.5×
Growth
Trailing 12 months- Revenue (TTM)
- $29.6B
- Revenue Growth YoY
- 9.2%
- Revenue CAGR 3Y
- 8.3%
- Revenue CAGR 5Y
- 6.7%
- EPS Growth YoY
- 35.0%
- Net Income Growth YoY
- 29.5%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 15.6%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- 24.7%
Earnings
Trailing 12 months- Net Income
- $4.61B
- EPS (diluted)
- $16.50
- EBITDA
- $6.09B
- Operating Income
- —
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $178M
- Total Debt
- $4.38B
- Net Debt
- $4.20B
- Total Assets
- $87.1B
- Total Liabilities
- $68.3B
- Shareholders' Equity
- $18.9B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $6.99B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 1.8%
- Dividend / Share
- $2.40
- Beta (5Y)
- 0.49
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 9.2% year over year, at $29.6B.
Note
Net margin of 15.6% over the last 12 months.
Strength
Share count is down 4.0% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 26, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K73Good news
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 20, 2026 · Read the filing on EDGAR
- Combined segment net income rose about 23%, to roughly $3.8B from $3.1B. Business Insurance earned $2.78B, up 18%, and Personal Insurance $447M, up 115%.
- Personal Insurance's combined ratio improved to 91.9 from 99.1. Personal auto turned an underwriting profit (combined ratio 93.2, under 100 means profit), but auto policies in force fell 10%.
- S&P, Moody's and A.M. Best all upgraded The Hartford's ratings in 2025. Debt stayed flat at $4.4B and operating cash flow held at $5.9B.
- Asbestos and environmental reserves rose $165M with no Berkshire reinsurance left to absorb it. Management expects a more competitive business insurance market in 2026.
Business momentum
Strong improvement
“Net income increased primarily due to a higher underwriting gain and higher net investment income.”
Outlook
Positive
“However, we continue to expect growth in written premium and an increase in market share while generating profitable margins.”
Financial stress
Low
“Operating cash flows for the year ended December 31, 2025 have been adequate to meet liquidity requirements.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Personal Insurance profit more than doubled
“Net income increased, largely driven by improved underwriting results.”
Credit ratings upgraded by three agencies
“These upgrades reflect improved underwriting performance, strong profitability, and risk management that have increased the Company's capital resiliency.”
Business Insurance underwriting gain up 26% on premium growth
“Underwriting gain increased due to the effect of earned premium growth, higher favorable prior accident year development, and lower CAY catastrophe losses.”
Concerns
Asbestos reserve increases now hit earnings in full
“As such, no remaining coverage is available for any future adverse net reserve development, which may be significant.”
Underlying claim costs creeping up in business lines
“Underlying Loss and LAE ratio increased primarily due to a slightly higher loss ratio in workers' compensation and general liability, partially offset by favorable non-CAT property losses.”
Lawsuit-driven claim costs remain a reserve risk
“The automobile liability severity trend continues to recognize inflationary effects and higher attorney representation rates on bodily injury claims.”
New risks since the previous report
More competition and slower price increases in business insurance
“We expect an increasingly competitive market within Business Insurance during 2026.”
Shrinking personal auto customer base
“Policies in-force as of the end of 2025 declined since 2024 for automobile and increased slightly for homeowners”
Employee Benefits sales falling and disability claims rising
“Fully insured ongoing sales decreased compared to prior year driven by lower sales of the paid family and medical leave product and fewer large case sales.”
Navigators reserve reinsurance benefit has ended
“As of December 31, 2025, the deferred gain on the Navigators ADC has been fully amortized and the limit fully collected.”
Continued investor withdrawals from Hartford Funds
“Net outflows were $3.7 billion for the year ended December 31, 2025 compared to net outflows of $3.2 billion for the year ended December 31, 2024.”
Biggest risks named
- Social inflation and lawsuit trends raising liability claim costs
- Asbestos and environmental reserve increases with no reinsurance left
- Catastrophe and wildfire losses
- Softening prices and more competition in commercial insurance
- Reserve uncertainty in workers' compensation and general liability
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 73 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 14 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 26, 2026 | Pro | |||
| 10-K | Feb 20, 2026 | 73 | Strong improvement | None | |
| 10-K | Feb 21, 2025 | 73 | Strong improvement | None | |
| 10-K | Feb 23, 2024 | 76 | Strong improvement | None | |
| 10-K | Feb 24, 2023 | 48 | Weakening | None | |
| 10-K | Feb 18, 2022 | 74 | Strong improvement | 1 minor | |
| 10-K | Feb 19, 2021 | 57 | Mixed | 1 minor | |
| 10-K | Feb 21, 2020 | 58 | Stable | None | |
| 10-K | Feb 22, 2019 | 75 | Strong improvement | None | |
| 10-K | Feb 23, 2018 | 38 | Sharp deterioration | 1 medium1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 26, 2026. View filings on SEC EDGAR