Wells Fargo Downgrades Travelers (TRV) to Underweight

Wells Fargo analyst Elyse Greenspan downgraded Travelers (NYSE: TRV) from Equal Weight to Underweight with a price target of $137.00.

The analyst comments "TRV has seen its loss picks within Business Insurance move higher primarily related to social inflation. We think the shares could underperform peers moving forward if it does not hit its 2020 margin target or if its reserve releases continue to slow down. In addition, TRV is less exposed to price increases due to its higher workers’ comp exposure and also lacks the exposure to large accounts which have seen the strongest price increases. We rate the TRV shares Underweight."

For an analyst ratings summary and ratings history on Travelers click here. For more ratings news on Travelers click here.

Shares of Travelers closed at $137.02 yesterday.

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