At a glance
Hartford Financial Services Group is worth $36.24B, about 10 times its fiscal 2025 earnings. Revenue grew 6.9% to $28.37B in fiscal 2025, with 13.5% kept as profit; over 5 years it has grown 6.7% a year. It pays a 1.77% dividend yield, raised every year for at least 9 years, and returned $10.45B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +11.1% over the past year with dividends reinvested and +15.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 54.5% in the 2020 crash (S&P 500: 33.7%) and 18.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 2 months after the lows.
The business in plain English
The Hartford Insurance Group is a Connecticut-based holding company. Its subsidiaries sell property and casualty (P&C) insurance, which covers damage to property and legal liability. They also sell employee group benefits, mutual funds and exchange-traded funds (ETFs). The company serves individuals and businesses in the United States, the United Kingdom and other countries. Its oldest subsidiary, Hartford Fire Insurance Company, dates to 1810. Like other insurers, it collects premiums, pays claims and invests the money in between. The holding company relies on dividends from its subsidiaries to pay its own dividends and buy back stock.
Business Insurance is the largest segment. It brought in $15.8 billion, or 55.7%, of 2025 revenue of $28.4 billion. It insures businesses of all sizes, from small firms to large national accounts, and writes specialty coverage overseas through a Lloyd's of London syndicate. Products include workers' compensation (which pays for employees' job-related injuries and illnesses), general liability, commercial property and auto, marine, professional liability and surety bonds. Small-business policies average less than $5,000 in premium. Most sales go through independent agents and brokers.
Employee Benefits sells group insurance and services that employers offer their workers. It brought in 25.2% of revenue. Personal Insurance, sold to individuals, added 14.4%. Hartford Funds earns fees based on the value of the funds it manages and contributed 3.9%.
Price history
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HIG +11.1% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| P&C Business Insurance | $15.81B | 55.7% |
| Employee Benefits | $7.14B | 25.2% |
| P&C Personal Insurance | $4.09B | 14.4% |
| Hartford Funds | $1.11B | 3.9% |
| Property & Casualty Other Operations | $73.0M | 0.3% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $7.22B, up 3.9% from a year earlier, and net income was $1.32B (+22.5%).
- For fiscal 2025, revenue was $28.37B (+6.9% year over year; +6.7% a year from FY2020 to FY2025) with a 13.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +6.7% good |
|---|---|
| Free cash flow margin | 20.3% good |
| Return on equity (FY2025) | 20.2% good |
| Return on assets (FY2025) | 4.5% watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $20.52B | $1.74B | $3.76B |
| FY2021 | $22.39B | $2.37B | $3.96B |
| FY2022 | $22.36B | $1.82B | $3.83B |
| FY2023 | $24.53B | $2.50B | $4.00B |
| FY2024 | $26.54B | $3.11B | $5.76B |
| FY2025 | $28.37B | $3.84B | $5.75B |
Valuation snapshot
| Market value | $36.24B |
|---|---|
| P/E ratio | 10.2 |
| Dividend yield | 1.77% |
Rank among 1514 US companies
Market value at each year end
Hartford Financial Services Group’s market value went from $18.00B at the end of 2016 to $36.24B on Nov 2, 2026, about 2.0 times as much; since the end of 2025 it is down 6%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $36.24B | -5.6% |
| 2025 | $38.40B | +21.1% |
| 2024 | $31.71B | +31.2% |
| 2023 | $24.18B | +0.2% |
| 2022 | $24.12B | +2.7% |
| 2021 | $23.50B | +33.9% |
| 2020 | $17.55B | -19.9% |
| 2019 | $21.90B | +37.4% |
| 2018 | $15.95B | -20.6% |
| 2017 | $20.08B | +11.5% |
| 2016 | $18.00B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| HIG price data to Nov 2, 2026 | -0.3% | +11.1% | +24.8% | +15.5% | +14.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -0.3% |
| 2025 | +28.1% |
| 2024 | +38.6% |
| 2023 | +8.6% |
| 2022 | +12.3% |
| 2021 | +44.3% |
| 2020 | -16.9% |
| 2019 | +39.7% |
| 2018 | -19.2% |
| 2017 | +20.3% |
| 2016 | +11.8% |
| 2015 | +6.1% |
| 2014 | +17.1% |
| 2013 | +64.1% |
| 2012 | +41.0% |
| 2011 | -37.5% |
| 2010 | +14.9% |
| 2009 | +43.8% |
| 2008 | -80.3% |
| 2007 | -4.5% |
| 2006 | +10.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 95.6% over that stretch · deepest drop along the way 96.1%, back to its old high 151.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 46.8% over that stretch · deepest drop along the way 54.5%, back to its old high 11.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 6.8% over that stretch · deepest drop along the way 18.6%, back to its old high 1.9 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 5 sales ($7.0M), 1 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 10, 2026 | Lori A Rodden Executive Vice President | sell | $4.2M |
| Mar 10, 2026 | Lori A Rodden Executive Vice President | sell | $1.4M |
| May 27, 2026 | Adin M Tooker President | sell (plan) | $1.2M |
| Mar 4, 2026 | Allison G Niderno SVP & Controller | sell | $99K |
| Feb 26, 2026 | Allison G Niderno SVP & Controller | sell | $53K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.5% | Mar 31, 2025 |
| Vanguard Capital Management | 7.52% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.8% | Mar 31, 2026 |
ETFs with the most weight in HIG
| SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF | 4.28% |
| KBWP Invesco KBW Property & Casualty Insurance ETF | 4.02% |
| IAK iShares U.S. Insurance ETF | 3.95% |
| SHRY First Trust Bloomberg Shareholder Yield ETF | 3.27% |
| FFLV Fidelity Fundamental Large Cap Value ETF | 3.07% |
| WBIF WBI BullBear Value 3000 ETF | 2.83% |
| LYLD Cambria Large Cap Shareholder Yield ETF | 2.44% |
| IPDP Dividend Performers ETF | 2.44% |
What could go wrong
- Inflation can push up claim costs. Tariffs, trade wars or military conflict could drive inflation higher. That can raise what Hartford pays per claim and lead to more claims, particularly in workers' compensation and disability coverage.
- Market drops hit Hartford Funds and investments. Hartford Funds earns fees based on the value of the assets it manages, so falling markets cut its income. Declines can also mean losses on Hartford's own stocks and less income from alternative investments.
- Unrest and wider wars could raise losses. Political instability, politically motivated violence and civil unrest can make insured losses more frequent and more severe. Hartford also warns that wider regional or global conflicts could bring insurance losses and economic damage.
- Wider credit spreads would hurt its bonds. A credit spread is the extra yield investors demand to lend to riskier borrowers. If spreads widen, Hartford's bonds lose value and stockholders' equity falls. A large, prolonged widening can bring credit losses.
- Interest rates cut both ways. Rising or persistently high rates can lower the value of bonds Hartford already owns. They could also bring a recession that cuts demand for insurance. If a weaker economy brought lower rates, investment income would fall.
- Reinsurance could cost more or be scarce. Insurers buy reinsurance, which is insurance for insurance companies, to cap big losses. Hartford says it could face higher reinsurance costs or more limited coverage. It would then pay more or keep more risk itself.
Recent events
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Major agreement ended; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Executive or board change
- Other company announcement
- Shareholder vote results
- Quarterly results released
- Quarterly results released
For income and retirement investors
The Hartford has raised its dividend at least nine years in a row through 2025, and the streak may be longer. Dividends per share grew from $1.30 in 2020 to $2.16 in 2025, about 10.7% a year. The payout is low: 15.4% of 2025 earnings and 10.3% of free cash flow (the cash left after running the business). The yield was 1.85% as of October 28, 2026. Buybacks take more of the cash returned to shareholders: $7.8 billion from 2021 to 2025, compared with $2.7 billion in dividends. The share count fell 21.4% between October 2021 and October 2026.
Downturns have been harsh. The share price fell 96.1% in the 2008 financial crisis and did not get back to its October 2007 peak until October 2021. It dropped 54.5% in the 2020 COVID crash and recovered in about 12 months. It fell 18.6% in the 2022 bear market and recovered in about two months. A single stock carries more risk than a diversified fund.
Questions investors ask
How does The Hartford make money?
The Hartford makes most of its money selling insurance and investing the premiums until claims are paid. Of its $28.4 billion in 2025 revenue, business insurance supplied 55.7%. That includes workers' compensation, liability and commercial property. Employee group benefits added 25.2% and personal insurance 14.4%. Hartford Funds, which earns fees on mutual funds and ETFs, contributed 3.9%. Its customers are individuals and businesses in the United States, the United Kingdom and other countries.
Does Hartford raise its dividend every year?
Yes, so far. The Hartford has raised its dividend at least nine years in a row through 2025, and the streak may be longer. Dividends per share rose from $1.93 in 2024 to $2.16 in 2025. They have grown about 10.7% a year since 2020. The dividend used 15.4% of 2025 earnings, which is a low payout ratio. Future increases are never guaranteed. The yield was 1.85% as of October 28, 2026.
What is Hartford's P/E ratio?
The Hartford's price-to-earnings (P/E) ratio was 9.8 as of October 28, 2026. That is based on 2025 diluted earnings of $13.32 per share. The P/E shows how many dollars investors pay for each dollar of yearly profit. Insurance profits can swing from year to year. Net income fell from $2.4 billion in 2021 to $1.8 billion in 2022, then climbed to $3.8 billion in 2025. So one year's P/E may not reflect a typical year.
What happened to Hartford stock in 2008?
The shares lost almost all their value. The stock fell 80.3% in calendar 2008 alone. From its October 2007 peak to its March 2009 low, it dropped 96.1%, and it did not get back to that peak until October 2021. The company was formerly named Hartford Financial Services Group. The episode shows that the stock of a long-established insurer can suffer deep, lasting losses in a severe financial crisis.
Is Hartford Funds part of The Hartford?
Yes. Hartford Funds is one of The Hartford's five reportable segments, and it offers mutual funds and exchange-traded funds. It brought in $1.1 billion, or 3.9%, of 2025 revenue, so it is small next to the insurance businesses. Its fees are based on the value of the assets it manages. That means a falling stock market can shrink its income.