Paulson Urges Hartford Separation (HIG)
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…
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.
Contact [email protected] for any questions or corrections.
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.
