Financial Stocks Higher; The Hartford Climbs 1% After Adjusted Q1 EPS Beat

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Financial stocks were higher this afternoon, with the NYSE Financial Sector Index climbing about 0.7% and the S&P Financial 100 Index advancing 0.8%.

In company news, shares of The Hartford Financial Services Group Inc. ( HIG ) were up about 1% Tuesday after posting Q1 adjusted net income that beat analyst estimates although revenue for the first three months narrowly trailed the Street view.

The insurance and financial services company earned $0.18 per share, excluding non-recurring items, exceeding the Capital IQ consensus by $0.04 per share. Revenue rose 1.9% year over year to $168 million, lagging expectations by around $2.14 mln.

HIG shares were up 1.2% in recent trade at $34.80 each, earlier advancing to a session high of $35.03 a share. The stock has a 52-week range of $26.99 to $36.76 a share, climbing 30.1% over the past year.

In other sector news,

(+) OFG, (+2.7%) Q1 earnings of $0.42 per share were in-line with the Capital IQ consensus.

(-) WRLD, (-2.1%) Consumer lender reports Q4 EPS of $3.52 per share trailed analyst projections by $0.01. Revenue climbs 0.1% year over year to $161.9 mln, lagging estimates by around $13.62 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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