Wells Fargo Keeps Their Hold Rating on Travelers Companies (TRV)

In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Hold rating on Travelers Companies (TRV), with a price target of $136. The company’s shares closed on Friday at $130.37.

Greenspan noted:

“We are lowering our 2018 EPS estimate to $9.06 (from $10.00) solely to reflect a higher cat load for the Q4 for the CA fires (see Figures 2-4). TRV has already said that Hurricane Michael will be a significant and manageable loss (implying at least $100 million of losses). EPS estimates and price target are unchanged. We do not expect much movement in TRV shares in response to the meetings. We continue to have a Market Perform rating— with the stock at 1.58x book (and 11.5x 2019 earnings) due to its strong performance over the past month (which we believe is partially due to Berkshire taking a position) we think the shares are appropriately valued.”

According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 3.5% and a 60.2% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.

Travelers Companies has an analyst consensus of Hold, with a price target consensus of $138.20.

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Based on Travelers Companies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $7.72 billion and net profit of $704 million. In comparison, last year the company earned revenue of $7.33 billion and had a net profit of $291 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock.

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The Travelers Cos., Inc. is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following segments: Business Insurance; Bond and Specialty Insurance; and Personal Insurance.