Evercore ISI analyst David Motemaden initiated Travelers with an Underperform rating as part of starting coverage of the U.S. Property & Casualty industry with a neutral to cautious view on the sector.

RBC Capital lowered the firm's price target on Travelers to $225 from $230 and keeps a Sector Perform rating on the shares. The company's Q1 results were impacted by larger-than-normal catastrophe losses, but its overall core margin improvement across the platform was solid, the analyst tells investors in a research note. Travelers' Personal Insurance trends also show that rate progress in recent quarters is starting to visibly benefit combined ratios, RBC added.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Travelers is down -7.1%, or -$15.91 to $207.21.

Travelers is down -6.3%, or -$14.09 to $209.03.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Alcoa (AA)... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $11.23B, consensus $10.51B. Reports Q1 adjusted book value per share of $125.53. "We are very pleased to report excellent top- and bottom-line results for the first quarter," said Alan Schnitzer, chairman and CEO. "Core income for the quarter was $1.1 billion, or $4.69 per diluted share, generating core return on equity of 15.4%. Strong core income was driven by record net earned premiums of $10.1 billion, up 14% compared to the prior year period, and an excellent combined ratio of 93.9%. The combined ratio improved 1.5 points, notwithstanding elevated catastrophe activity, primarily in the central and eastern regions of the United States. The underlying combined ratio improved 2.9 points to an outstanding 87.7%, driven by strong underlying results in each of our three segments. Our high-quality investment portfolio generated after-tax net investment income of $698 million for the quarter, driven by strong and reliable returns from our growing fixed income portfolio and higher returns from our non-fixed income portfolio. During the quarter, we returned $620 million of capital to shareholders, including $388 million of share repurchases. In recognition of our strong financial position and confidence in the outlook for our business, I am pleased to share that our Board of Directors declared a 5% increase in our quarterly cash dividend to $1.05 per share, marking 20 consecutive years of dividend increases with a compound annual growth rate of 8% over that period."