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Stock impact report

Travelers' stock slips after Raymond James gets bearish in the wake of earnings miss [MarketWatch]

The Travelers Companies, Inc. (TRV) 
Last the travelers companies, inc. earnings: 4/21 06:57 am Check Earnings Report
US:NYSE Investor Relations: investor.travelers.com
Company Research Source: MarketWatch
Shares of Travelers Companies Inc. fell 0.4% in premarket trading Friday, after Raymond James analyst Gregory Peters turned bearish on the insurer, citing higher uncertainties in core lines related to the coronavirus pandemic. Peters cut his rating to underperform from neutral in the wake of first-quarter results out earlier in the week in which profit and revenue fell below expectations. Peters highlighted charges Travelers recorded for a negative impact to earned premiums, because of a reduction in audit premiums receivable; increased expenses from a bad debt provision for billing relief and modestly higher claims and claims adjustment expenses. "Management singled out several lines of business that could experience continued headwinds from COVID-19 including Workers' Comp. (WC), Management Liability/D&O, Surety, and Business Interruption," Peters wrote in a note to clients. The stock has lost 25.5% over the past three months through Thursday, while the SPDR S&P Insurance ETF has lo Show less Read more
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