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Investing

Paulson Urges Hartford Separation (HIG)

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By Paul Ausick Published

Hedge fund manager John Paulson, whose fund owns the largest stake in Hartford Financial Services Group Inc. (NYSE: HIG), encouraged the company to get a move on and complete reviewing its strategic options and bust the company up into two pieces.

Paulson had this to say to a group of investors and analysts on a conference call with Hartford’s CEO:

Hartford needs to do something drastic because the stock is the lowest valuation relative to book value of any major insurance company. … How long do we have to wait to hear if there’s going to be a positive recommendation to separate these two businesses?

Shares of Hartford fell -39% last year and the company trades at just half its book value. Shares are up more than 7% today at $20.49 in a 52-week range of $14.56-$31.08.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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