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CB

Chubb

$143.44

0.65 (0.46%)

, TRV

Travelers

$120.40

0.44 (0.37%)

14:20
09/15/17
09/15
14:20
09/15/17
14:20

Catastrophe modeling firm sees $32B-$50B in insured losses for Hurricane Irma

Catastrophe modeling firm AIR Worldwide estimates combined industry insured losses for Hurricane Irma for the United States and the Caribbean will range from $32B-$50B. AIR estimates industry insured losses for the United States resulting from Hurricane Irma will range from $25B-$35B. For the Caribbean, AIR estimates that industry insured losses will range from $7B-$15B. AIR Worldwide is a Verisk (VRSK) business. Publicly traded companies in the insurance space include ACE Limited (ACE), AIG (AIG), Allstate (ALL), Chubb (CB), Hartford Financial (HIG), and Travelers (TRV).

CB

Chubb

$143.44

0.65 (0.46%)

TRV

Travelers

$120.40

0.44 (0.37%)

AIG

AIG

$59.52

-0.295 (-0.49%)

HIG

Hartford Financial

$53.63

0.3 (0.56%)

ALL

Allstate

$90.75

0.25 (0.28%)

ACE

ACE Limited

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    Sep

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    Oct

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    Oct

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    Jan

CB Chubb
$143.44

0.65 (0.46%)

09/01/17
MSCO
09/01/17
NO CHANGE
MSCO
Harvey loss uncertainty to remain overhang on P&C stocks, says Morgan Stanley
Morgan Stanley analyst Kai Pan currently estimates $15B-$40B in total insured losses from Harvey, including $5B-$15B in National Flood Insurance Program, or NFIP, claims. P&C stocks the firm covers have declined 2.7% on average since August 23, noted Pan, who thinks the uncertainty of losses will remain a near-term overhang on the group. If the ultimate losses are contained within quarterly earnings, the stocks could rebound, added Pan. Stocks in the P&C insurance space include Allstate (ALL), Travelers (TRV), Progressive (PGR), Chubb (CB), AIG (AIG).
09/11/17
LEHM
09/11/17
NO CHANGE
LEHM
Irma and Harvey insured losses expected to top $100B, says Barclays
Barclays analyst Jay Gelb notes initial indications are Hurricane Irma's impact on Florida could result in insured losses of up to $60B. Irma will likely be the largest storm to ever impact the U.S., although not as bad as if Miami suffered a direct hit, Gelb tells investors in a research note on the insurance space titled "Devastating Irma Impact on Insurers, But It Could Have Been Worse." All in, Irma and Harvey insured losses are expected to exceed $100B, Gelb points out. He believes the re/insurance stocks could suffer from near-term uncertainty regarding the extent of losses. Of the names he covers, the analyst expects Everest Re (RE), XL Group (XL), RenaissanceRe (RNR), Validus (VR) and Aspen Insurance (AHL) "to take the brunt of Irma losses." Book value declines of more than 20% could require equity capital raises, Gelb contends. He says Chubb (CB), Travelers (TRV) and Hartford Financial (HIG) have relatively less exposure while AIG (AIG) could have greater losses among the primary insurers.
09/11/17
JMPS
09/11/17
UPGRADE
Target $625
JMPS
Outperform
Alleghany upgraded to Outperform from Market Perform at JMP Securities
JMP Securities analyst Matthew Carletti said Hurricane Irma still has the potential to be the largest insured natural catastrophe event in U.S. insurance industry history, though he believes that the property catastrophe market will see a market turn at the coming January 1 renewal. He recommends investors focus near-term on insurers that have lower-than-peer exposure to the event, such as Chubb (CB) and Alleghany (Y), which he upgraded to Outperform from Market Perform with a $625 price target. He also pointed to Amerisafe (AMSF) and ProAssurance (PRA) as insurers with no exposure to Irma losses that have been caught up in the pre-Irma selloff in the space.
09/11/17
JPMS
09/11/17
NO CHANGE
JPMS
Irma losses could be lower than expected, says JPMorgan
JPMorgan analyst Sarah DeWitt believes losses from Hurricane Irma could be at the lower end of the $20B-$60B expected range since the storm weakened faster than expected. The analyst estimates the impact to book values for the companies she covers should be a "manageable" 1%-2%. Among the property casualty insurers, the analyst views Validus (VR), Everest Re (RE) and XL Group (XL) as the most oversold. She lists those three along with RenaissanceRe (RNR), Travelers (TRV), Arch Capital (ACGL), Chubb (CB), Allstate (ALL) and Progressive (PGR) as the P&C insurers with the most exposure to U.S. hurricanes.
TRV Travelers
$120.40

0.44 (0.37%)

09/11/17
BUCK
09/11/17
INITIATION
Target $136
BUCK
Buy
Travelers initiated with a Buy at Buckingham
Buckingham analyst Amit Kumar initiated Travelers with a Buy and a $136 price target.
AIG AIG
$59.52

-0.295 (-0.49%)

08/09/17
08/09/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded on more cautious U.S. comp sales outlook at BMO Capital with analyst Andrew Strelzik saying he's "more cautious" on the outlook for the company's U.S. comparable sales, partly due to increased cannibalization of stores, increased competition, "throughput headwinds," and the possibility that "contributions from beverage innovation and food growth may have peaked." 2. Albemarle (ALB) downgraded to Hold from Buy at SunTrust with analyst James Sheehan citing recent share strength. 3. Dean Foods (DF) downgraded to Market Perform from Outperform at Wells Fargo with analyst John Baumgartnerm citing the second quarter miss and "big" guidance reduction. 4. Air Lease (AL) downgraded to Neutral from Buy at BofA/Merrill with analyst Kristine Liwag citing valuation. 5. AIG (AIG) downgraded to Neutral from Overweight at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/17
BUCK
09/11/17
INITIATION
Target $52
BUCK
Underperform
AIG initiated with an Underperform at Buckingham
Buckingham analyst Amit Kumar initiated AIG with an Underperform and a $52 price target.
HIG Hartford Financial
$53.63

0.3 (0.56%)

09/11/17
BUCK
09/11/17
INITIATION
Target $63
BUCK
Buy
Hartford Financial initiated with a Buy at Buckingham
Buckingham analyst Amit Kumar initiated Hartford Financial with a Buy and a $63 price target.
06/06/17
06/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hartford Financial (HIG) initiated with a Buy at Deutsche Bank. 2. FedEx (FDX) and UPS (UPS) were initiated with a Neutral at Seaport Global. 3. Gardner Denver (GDI) was initiated with an Outperform at William Blair and Baird, an Overweight at Piper Jaffray, a Buy at Stifel, UBS, and Goldman Sachs, as well as a Neutral at Credit Suisse. 4. Solaris Oilfield (SOI) was initiated with an Outperform at Wells Fargo, Oppenheimer, Evercore ISI, and Credit Suisse, an Overweight at Piper Jaffray, as well as a Buy at Goldman Sachs and Wunderlich. 5. LeMaitre (LMAT) initiated with a Hold at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/19/17
DBAB
06/19/17
NO CHANGE
Target $60
DBAB
Buy
Hartford bear case has 'weak premises,' says Deutsche Bank
In a research note titled "Challenging the Bear Case," Deutsche Bank analyst Joshua Shanker argues that the bear case for shares of Hartford Financial has "weak premises." The cases, including a potential material acquisition, the sale of Talcott leading to a material writedown of book value and the company's deferred tax assets having no value, are "insufficient" to hold investors back from buying the shares, Shanker tells investors in a research note. The analyst sees "material" upside potential and keeps a Buy rating on Hartford with a $60 price target.
ALL Allstate
$90.75

0.25 (0.28%)

09/11/17
BUCK
09/11/17
INITIATION
Target $74
BUCK
Underperform
Allstate initiated with an Underperform at Buckingham
Buckingham analyst Amit Kumar initiated Allstate with an Underperform and a $74 price target.
09/11/17
MKMP
09/11/17
NO CHANGE
MKMP
Arch Capital, AXIS Capital named as favorable insurance names at MKM Partners
MKM Partners analyst Harry Fong says that Arch Capital (ACGL) "could have the best prospects" in the wake of the recent hurricanes. The analyst says that the company's property catastrophe exposure has dropped significantly, and he reports that the company has estimated its "probable maximum loss in the tri-county area of Florida to be $370M for a 1-in-250 year kind of event," representing "less than 4% of its equity." The analyst adds that the company's on-shore marine business could suffer losses. However, he keeps a $120 price target and a Buy rating on the stock. Fong adds that AXIS has also reduced its property exposure in recent years. However, he adds that Novea which AXIS is looking to purchase could have exposure to Florida. Nonetheless, he thinks that AXIS' risk/reward ratio is positive and he keeps an $80 price target and a Buy rating on the shares. Fong adds that he expects insurers to benefit from significant rate increases going forward that will enable them to erase their hurricane losses in a short time. . He keeps Buy ratings on Allstate (ALL) and Progressive (PGR)
ACE ACE Limited

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TWTR

Twitter

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Facebook

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Snap

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TWTR

Twitter

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GOOG

Alphabet

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GOOGL

Alphabet Class A

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LNKD

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GE

General Electric

$18.14

-0.625 (-3.33%)

10:40
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10:40
Periodicals
GE seen as likely to embrace company breakup, CNBC reports »

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HMNY

Helios and Matheson

$7.64

-0.42 (-5.21%)

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Hot Stocks
MoviePass names Natasha Mulla CMO »

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EEM

MSCI Emerging Markets Index

$49.79

0.275 (0.56%)

10:40
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Options
Notable interest in iShares Emerging Markets Fund options »

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C

Citi

$77.54

0.695 (0.90%)

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Citi CFO says U.S. Retail Services growing slightly above outlook »

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VPG

Vishay Precision

$27.30

0.55 (2.06%)

10:38
01/16/18
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Conference/Events
Vishay Precision management to meet with Sidoti »

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SITE

SiteOne Landscape

$71.28

-0.2 (-0.28%)

10:37
01/16/18
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10:37
Conference/Events
SiteOne Landscape management to meet with William Blair »

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IWM

iShares Trust Russell 2000 Index Fund

$159.21

1.05 (0.66%)

, RUT

Russell 2000 Index

10:36
01/16/18
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10:36
Technical Analysis
Technical View: Russell 2000 Index crosses above 1600, new life high »

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IWM

iShares Trust Russell 2000 Index Fund

$159.21

1.05 (0.66%)

RUT

Russell 2000 Index

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LPTH

LightPath

$2.42

0.09 (3.86%)

10:36
01/16/18
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Conference/Events
LightPath management to meet with Roth Capital »

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LOW

Lowe's

$104.00

3.14 (3.11%)

10:35
01/16/18
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10:35
Conference/Events
Lowe's management to meet with UBS »

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GE

General Electric

$18.17

-0.595 (-3.17%)

10:35
01/16/18
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10:35
Periodicals
GE breakup likely, announcement may come this Spring, CNBC reports »

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C

Citi

$77.56

0.715 (0.93%)

10:33
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Hot Stocks
Breaking Hot Stocks news story on Citi »

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Conference/Events
UBS leisure analyst holds an analyst/industry conference call »

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ITRN

Ituran

$35.30

1.25 (3.67%)

10:33
01/16/18
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Conference/Events
Ituran management to meet with Jefferies »

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C

Citi

$77.50

0.66 (0.86%)

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Hot Stocks
Breaking Hot Stocks news story on Citi »

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AXTA

Axalta Coating

$31.99

-0.45 (-1.39%)

, UBS

UBS

$19.62

0.03 (0.15%)

10:32
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Initiation
On The Fly: Top five analyst initiations »

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AXTA

Axalta Coating

$31.99

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UBS

UBS

$19.62

0.03 (0.15%)

CS

Credit Suisse

$19.04

0.08 (0.42%)

NTR

Nutrien

$53.31

-0.12 (-0.22%)

CBM

Cambrex

$52.80

1.15 (2.23%)

DRNA

Dicerna

$8.42

-0.01 (-0.12%)

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  • 24

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UA

Under Armour; also tag UAA

$13.13

-1.01 (-7.14%)

, UAA

Under Armour; also tag UA

$14.21

-0.91 (-6.02%)

10:32
01/16/18
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10:32
Downgrade
On The Fly: Top five analyst downgrades »

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UA

Under Armour; also tag UAA

$13.13

-1.01 (-7.14%)

UAA

Under Armour; also tag UA

$14.21

-0.91 (-6.02%)

VZ

Verizon

$51.84

-0.023 (-0.04%)

LMT

Lockheed Martin

$336.31

0.06 (0.02%)

COL

Rockwell Collins

$138.14

0.31 (0.22%)

SAVE

Spirit Airlines

$47.19

-1.07 (-2.22%)

FNSR

Finisar

$22.74

0.48 (2.16%)

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QCOM

Qualcomm

$65.38

-0.05 (-0.08%)

, TWTR

Twitter

$24.88

-0.535 (-2.11%)

10:32
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Upgrade
On The Fly: Top five analyst upgrades »

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QCOM

Qualcomm

$65.38

-0.05 (-0.08%)

TWTR

Twitter

$24.88

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PG

Procter & Gamble

$90.31

0.7 (0.78%)

NOC

Northrop Grumman

$317.94

2.79 (0.89%)

CW

Curtiss-Wright

$133.63

4.893 (3.80%)

ADTN

Adtran

CIEN

Ciena

$22.69

0.75 (3.42%)

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TWTR

Twitter

$24.85

-0.565 (-2.22%)

10:32
01/16/18
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10:32
Periodicals
Greenlight took 'small' stake in Twitter in Q4, Bloomberg reports »

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XLF

Financial Select Sector

$29.38

0.15 (0.51%)

10:30
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Options
Notable spread in SPDR Financials as the sector sees strength »

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10:29
01/16/18
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10:29
Conference/Events
UBS automotive analyst holds an analyst/industry conference call »

Automotive Analyst Hummel…

10:28
01/16/18
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General news
Tax reform optimism, Merck help push Dow up 1% to over 26,000 »

Stock futures were strong…

C

Citi

$77.60

0.76 (0.99%)

10:27
01/16/18
01/16
10:27
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10:27
Hot Stocks
Citi CFO sees branded-cards NCL rate rising to 300bps in 2018 »

Says adjusting strategy…

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CF

CF Industries

$41.63

-1.8919 (-4.35%)

10:26
01/16/18
01/16
10:26
01/16/18
10:26
Technical Analysis
Technical View: CF Industries falls sharply to session lows »

The stock was last down…

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