The Hartford Financial Services Group, Inc. (NYSE:HIG) [Trend Analysis] knocking active thrust in leading trading session, shares an advance of 0.21% to 47.75 with around 4.25 Million shares have changed hands in this session. The Hartford (HIG) reported a definitive contract with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc., for a $1.5 billion aggregate excess of loss reinsurance contract covering certain of The Hartford’s asbestos and environmental liability exposures. The reinsurance premium for the contract is $650 million.
The contract will be accounted for in The Hartford’s fourth quarter 2016 financial statements as a retroactive reinsurance contract, resulting in a charge of approximately $423 million, after-tax, against fourth quarter net income, or a pro forma impact of $1.10 per share to Sept. 30, 2016 book value per share of $48.30.Hartford noted that the reinsurance premium is expected to have a slightly negative impact on 2017 P&C net investment income and does not affect the company’s expectation to execute capital management plan including equity repurchases of $1.3 billion. The stock is going forward its fifty-two week low with 33.26% and lagging behind from its 52-week high price with -2.19%.
Similar, the positive performance for the quarter recorded as 11.82% and for the year was 11.81%, while the YTD performance remained at 11.81%. HIG has Average True Range for 14 days of 0.58.
Adient plc (NYSE:ADNT) [Trend Analysis] retains strong position in active trade, as shares scoring -1.48% to $57.73 in a active trade session, while looking at the shares volume, around 684574 shares have changed hands in this session. Adient (ADNT) has collaborated with FCA US LLC to produce a vision of the future of seating for the automaker’s Chrysler Portal concept vehicle.The Chrysler Portal is a forward-thinking interpretation of the “fifth generation” of family transportation targeted at the millennial generation.
The vehicle was unveiled by FCA US at the Consumer Electronics Show in Las Vegas.The seat will be displayed at Adient’s booth at the 2017 North American International Auto Show (NAIAS) in Detroit’s Cobo Center next week. Designed with supplier partners like Adient, the interior of the Chrysler Portal concept offers the driver and passengers a “third space” an open and serene atmosphere that provides an alternative environment between work and home. ADNT attains analyst recommendation of 2.20 with week’s performance of 2.81%. Investors looking further ahead will note that the Price to next year’s EPS is 6.07%.