The Travelers Companies Is Proving Mostly Immune To Correction
Oct. 19, 2015, 5:30 PM
Oct. 1, 2015, 11:09 AM
- Checking market share for exposures in the potential path of Hurricane Joaquin - still a Category 3 storm with sustained winds now at 125 mph vs. 120 earlier - Macquarie finds Allstate (ALL -0.8%) with a 8.07% share, Travelers (TRV -1.3%) a 4.97% share, Erice Indemnity (ERIE -1.9%) a 3.07% share, Progressive (PGR -0.2%) a 2.75% share, Chubb (CB -0.6%) a 1.87% share, AIG (AIG -0.4%) a 1.81% share, and CNA Financial (CNA -0.8%) a 1.22% share.
- On a gross pre-tax basis, says Macquarie, Allstate and Progressive are most exposed with the impact at about 65% and 50% of Q4 2015 operating EPS estimates, respectively. AIG has the least exposure as a percent of earnings.
- via Bert Macklin
Aug. 4, 2015, 4:45 PM
- Citing a source, Dow Jones reports popular Travelers (NYSE:TRV) CEO Jay Fishman is exiting on December 1, and will be replaced with Alan Schnitzer, who currently heads business and international insurance.
- Fishman late last year disclosed a neuromuscular condition, but said it wouldn't affect his plans to stay on as chairman and CEO.
Jul. 21, 2015, 7:46 AM
- Q2 operating income of $806M or $2.52 per share vs. $673M and $1.93 one year ago, primarily thanks to lower catastrophe losses and a $32M benefit from prior-year tax matters.
- Net written premiums of $6.169B basically flat Y/Y. Underlying combined ratio of 90.6% improves 30 basis points.
- Operating ROE of 14.2% up 280 basis points. Adjusted book value per share of $73.09 vs. $69.38 one year ago. 7.9M shares repurchased during quarter and 14.2M YTD. Another $5B of repurchase authority remains as of the end of Q2.
- Conference call at 9 ET
- Previously: The Travelers Companies beats by $0.39, misses on revenue (July 21)
- TRV +2.4% premarket
Jul. 21, 2015, 7:00 AM
- The Travelers Companies (NYSE:TRV): Q2 EPS of $2.52 beats by $0.39.
- Revenue of $6.17B (+0.2% Y/Y) misses by $90M.
Jul. 20, 2015, 5:30 PM
Jul. 1, 2015, 9:39 AM
- ACE's (ACE +7.7%) purchase of Chubb (CB +34.8%) for $28.3B in stock and cash has the property & casualty names higher in early action.
- Travelers (TRV +3.9%), Allstate (ALL +2.4%), Cincinnati Financial (CINF +2.2%), W.R. Berkley (WRB +3.1%), Progressive (PGR +2.3%), United Insurance (UIHC +2.2%), Hartford FInancial (HIG +3.3%).
- Previously: ACE buying Chubb in cash and stock deal for $28.3B (July 1)
Apr. 27, 2015, 8:28 AM
Apr. 21, 2015, 7:22 AM
- Q1 operating income of $827M or $2.53 per share vs. $1.052B and $2.95 one year ago. Net written premiums of $5.897B flat. Operating ROE of 14.5% falls 330 basis points.
- Quarterly dividend is boosted by 11% to $0.61 per share, and another $5B of buybacks is authorized.
- Adjusted book value per share of $71.45 up 5% Y/Y.
- Underlying combined ratio of 90.3% deteriorates from 88.2% a year ago.
- Underwriting gain of $620M vs. $791M a year ago. Net investment income of $592M vs. $736M.
- Conference call at 9 ET
- Previously: The Travelers Companies misses by $0.01, misses on revenue (April 21)
- TRV -2% premarket
Apr. 21, 2015, 7:01 AM
- The Travelers Companies (NYSE:TRV): Q1 EPS of $2.53 misses by $0.01.
- Revenue of $5.9B (+0.5% Y/Y) misses by $140M.
Apr. 20, 2015, 5:30 PM
Apr. 17, 2015, 9:44 AM
Apr. 13, 2015, 7:54 AM
- Travelers (NYSE:TRV) agrees to acquire a majority interest in the property casualty business of its J. Malucelli Participações em Seguros e Resseguros S.A. joint venture in Brazil. After the deal, Travelers will own 95% of the property casualty business, with Parana Banco owning the rest.
- Travelers interest in the surety business of the J. Malucelli JV will remain at 49.5%.
- "Our decision to acquire a controlling interest in the property casualty business reflects Travelers commitment to Brazil and our optimism about the long-term growth potential the market offers."
Apr. 1, 2015, 9:51 AM
- Started at Outperform are ACE Limited (ACE -0.6%), Arthur J. Gallagher (AJG -0.9%), Chubb (CB -0.6%), Marsh * McLennan (MMC -0.5%), and XL Group (XL -0.3%).
- Initiated at Neutral: Arch Capital (ACGL -0.3%), Progressive (PGR -0.9%), Travelers (TRV -1.1%), and Willis Group (WSH -0.8%).
- Started at Underperform: Aon Plc (AON -0.7%) and W.R. Berkley (WRB -0.7%).
Mar. 24, 2015, 3:54 PM
- Buyback-happy U.S. firms are prohibited from repurchasing shares from about five weeks prior to releasing quarterly earnings to about 48 hours after those reports. These blackout periods, says Goldman, may offer an especially tasty time for investors to pick up shares of their favorites.
- "High valuations in the absence of corporate demand may weigh on stock prices," says Goldman's Amanda Sneider, and particular areas of focus are tech, consumer discretionary, and financials - they've accounted for more than 50% of buyback activity.
- Goldman's buyback blackout theme buys: SanDisk (NASDAQ:SNDK), Yahoo (NASDAQ:YHOO), Travelers (NYSE:TRV), Apple (NASDAQ:AAPL), Juniper Networks (NYSE:JNPR), Xerox (NYSE:XRX), Torchmark (NYSE:TMK), F5 Networks (NASDAQ:FFIV), Citrix Systems (NASDAQ:CTXS), Aon (NYSE:AON), Moody's (NYSE:MCO), VeriSign (NASDAQ:VRSN), Hartford Financial (NYSE:HIG), Ameriprise (NYSE:AMP), Corning (NYSE:GLW), Time Warner (NYSE:TWX), Seagate Technology (NASDAQ:STX), Viacom (NASDAQ:VIAB), Legg Mason (NYSE:LM), XL Group (NYSE:XL), DirecTV (NASDAQ:DTV), Allstate (NYSE:ALL), Nvidia (NASDAQ:NVDA), CBS (NYSE:CBS), Macy's (NYSE:M), Kohl's (NYSE:KSS).
Feb. 17, 2015, 9:19 AM
- Believing the loss trend environment could stay muted through the end of next year, Citigroup upgrades a handful of property and casualty insurance companies.
- Arthur J. Gallagher (NYSE:AJG), Marsh & McLennan (NYSE:MMC), and RenaissanceRe (NYSE:RNR) are boosted to Buy from Neutral, and Travelers (NYSE:TRV), Third Point Re (NYSE:TPRE), Chubb (NYSE:CB), XL Group (NYSE:XL), and AXIS Capital (NYSE:AXS) are upgraded to Neutral from Sell.
Travelers Property Casualty Corporation its commercial insurance services include multi-peril, workers' compensation, liability and property and casualty products and Personal insurance services include automotive and homeowners insurance. It is headquartered in Hartford, Connecticut in the US.
Industry: Property & Casualty Insurance
Country: United States
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