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RNR

RenaissanceRe

$129.41

0.265 (0.21%)

, TRV

Travelers

$117.76

-0.44 (-0.37%)

07:44
01/09/19
01/09
07:44
01/09/19
07:44

Barclays upgrades three P&C Insurers, downgrades RenaissanceRe

Barclays analyst Jay Gelb upgraded Travelers (TRV), Arch Capital Group (ACGL) and Progressive (PGR) to Overweight while downgrading RenaissanceRe to Underweight from Equal Weight. Travelers, Arch and Progressive are among the best managed companies in the Property and Casualty Insurance sector with "sustainably robust earning power, strong balance sheets, and increasingly attractive valuations," Gelb tells investors in a research note. He believes the recent share pullbacks have provided an attractive opportunity. And although he also views RenaissanceRe as well managed company, he thinks the stock's valuation is full and that reinsurance market conditions are unlikely to tighten.

RNR

RenaissanceRe

$129.41

0.265 (0.21%)

TRV

Travelers

$117.76

-0.44 (-0.37%)

ACGL

Arch Capital

$26.41

0.1 (0.38%)

PGR

Progressive

$60.74

0.72 (1.20%)

  • 22

    Jan

  • 30

    Jan

RNR RenaissanceRe
$129.41

0.265 (0.21%)

01/09/19
LEHM
01/09/19
DOWNGRADE
Target $125
LEHM
Underweight
RenaissanceRe downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Jay Gelb downgraded RenaissanceRe to Underweight and lowered his price target for the shares to $125 from $130.
12/18/18
SBSH
12/18/18
NO CHANGE
SBSH
Buy
Citi moves Chubb to top P&C Insurance pick for 2019
Citi analyst James Naklicki says U.S. commercial pricing improved sequentially and that he expect trends to stabilize in 2019. The analyst moved Chubb (CB) to his top pick for 2019 in Insurance - Property & Casualty, which he notes is an "out of consensus view." Chubb is a "very defensive stock, significantly outperforming both the S&P 500 and the P&C sector during financial crisis in 2008," Naklicki tells investors in a research note. He thinks there could be upside to consensus expectations as interest rates rise. Plus, the analyst expects Chubb to generate over $5B in cash in 2019, "with only about half of that being deployed back to shareholders through dividend and share repurchase." For RenaissanceRe (RNR), Naklicki sees a 2% decline in U.S. property catastrophe reinsurance pricing in 2019 serving as a negative catalyst.
12/10/18
KBWI
12/10/18
UPGRADE
Target $168
KBWI
Outperform
RenaissanceRe upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Meyer Shields upgraded RenaissanceRe to Outperform and raised his price target for the shares to $168 from $143. The analyst sees better expected returns going forward.
12/03/18
BOFA
12/03/18
UPGRADE
Target $144
BOFA
Neutral
RenaissanceRe upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Jay Cohen upgraded RenaissanceRe to Neutral and raised its price target to $144 from $125 saying the takeover premium in shares has been removed and sees better chances of improving cat reinsurance in 2019. Cohen said there is cautious optimism that renewals for catastrophe reinsurance pricing for US risks could increase in the upcoming renewal season.
TRV Travelers
$117.76

-0.44 (-0.37%)

01/09/19
LEHM
01/09/19
UPGRADE
Target $145
LEHM
Overweight
Travelers upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Jay Gelb upgraded Travelers to Overweight and raised his price target for the shares to $145 from $135.
11/15/18
11/15/18
NO CHANGE

Morgan Stanley says 13F a 'clear signal' of value Buffett sees in financials
Following the release last night of 13F filings detailing the holdings of large investors, including Berkshire Hathaway (BRK.A), Morgan Stanley analyst Kai Pan noted that the filing from Warren Buffett's Berkshire revealed increased stakes in Bank of America (BAC), U.S. Bancorp (USB) and Goldman Sachs (GS) along with new stakes in JPMorgan (JPM), PNC Financial (PNC) and Travelers (TRV). The analyst sees these investments, along with the fact that Berkshire's s financial holdings stood at 46% of its overall $203B equity portfolio as of quarter end, as a "clear signal" of the value that Buffett sees in financials, Pan tells investors. He adds that he views Buffett's new stake in Oracle (ORCL) as another "notable" new purchase.
12/11/18
RBCM
12/11/18
DOWNGRADE
Target $133
RBCM
Sector Perform
Travelers downgraded to Sector Perform from Outperform at RBC Capital
As reported earlier, RBC Capital analyst Mark Dwelle downgraded Travelers to Sector Perform from Outperform and lowered his price target to $133 from $143. The analyst expects the company to be "increasingly be pressured by weaker-than-anticipated pricing, a slower economy, and adverse loss trends in economically sensitive lines like workers' compensation." Dwelle also sees higher catastrophe losses, mainly related to California wildfires, to weigh on its earnings, lowering his FY19 EPS view to $10.65 from $10.75.
12/11/18
RBCM
12/11/18
DOWNGRADE
RBCM
Sector Perform
Travelers downgraded to Sector Perform from Outperform at RBC Capital
ACGL Arch Capital
$26.41

0.1 (0.38%)

06/18/18
GSCO
06/18/18
INITIATION
Target $88
GSCO
Neutral
Arch Capital initiated with a Neutral at Goldman Sachs
Goldman Sachs started Arch Capital with a Neutral rating and $88 price target.
01/09/19
LEHM
01/09/19
UPGRADE
Target $32
LEHM
Overweight
Arch Capital upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Jay Gelb upgraded Arch Capital Group to Overweight and raised his price target for the shares to $32 from $29.
06/18/18
GSCO
06/18/18
INITIATION
Target $88
GSCO
Neutral
Arch Capital initiated with a Neutral on margin pressures at Goldman Sachs
Goldman Sachs analyst Yaron Knar initiated Arch Capital with a Neutral and $88 price target saying he expects underwriting margins and income to remain under pressure at this stage in the cycle, reducing potential upside in shares.
03/22/18
KBWI
03/22/18
UPGRADE
Target $101
KBWI
Outperform
Arch Capital upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Meyer Shields upgraded Arch Capital to Outperform with an unchanged price target of $101. The analyst cites valuation for the upgrade following the recent underperformance of the shares.
PGR Progressive
$60.74

0.72 (1.20%)

01/09/19
LEHM
01/09/19
UPGRADE
Target $73
LEHM
Overweight
Progressive upgraded to Overweight from Underweight at Barclays
Barclays analyst Jay Gelb double upgraded Progressive to Overweight from Underweight and raised his price target for the shares to $73 from $67.
01/08/19
GSCO
01/08/19
UPGRADE
Target $179
GSCO
Buy
Willis Towers Watson upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Yaron Kinar upgraded Willis Towers Watson (WTW) to Buy and raised his price target for the shares to $179 from $163. The analyst expects the impact of the company's restructuring and efficiency initiatives "to be more pronounced in 2019." He also sees Willis Towers' EBITDA margin improvement in 2019 being above peer average. The negative spread between the company's free cash flow margins and peers' should "meaningfully compress" in 2019, Kinar tells investors in a research note. Progressive (PGR) remains the analyst's top pick into 2019 in the Property & Casualty space.
12/20/18
FBCO
12/20/18
NO CHANGE
Target $74
FBCO
Outperform
Progressive price target lowered to $74 from $79 at Credit Suisse
Credit Suisse analyst Michael Zaremski lowered his price target for Progressive to $74 from $79 as he believes some investors are currently unwilling to buy into auto stocks as auto pricing falls. The analyst reiterates an Outperform rating on the shares.
12/19/18
DBAB
12/19/18
NO CHANGE
DBAB
Hold
Progressive shares have retreated to 'historical lows,' says Deutsche Bank
Progressive shares have retreated to "historical lows" with its price-to-earnings valuation multiple below 13 times year-ahead consensus earnings and 85% of the S&P 500 multiple, Deutsche Bank analyst Joshua Shanker tells investors in a research note. While the company is unlikely to have to confront the headwinds of increasingly lower interest rates as it did in the 2005-2015 decade when its earnings growth was flattish, its underwriting margins "may be poised to deteriorate," Shanker contends. As such, he keeps a Hold rating on Progressive.

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C

Citi

$64.03

-0.28 (-0.44%)

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ZG

Zillow

$40.54

5.47 (15.60%)

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Zillow

$40.94

5.91 (16.87%)

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ZG

Zillow

$40.54

5.47 (15.60%)

Z

Zillow

$40.94

5.91 (16.87%)

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ZG

Zillow

$40.54

5.47 (15.60%)

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Zillow

$40.94

5.91 (16.87%)

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Zillow

$40.54

5.47 (15.60%)

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Zillow

$40.94

5.91 (16.87%)

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PFE

Pfizer

$43.02

0.88 (2.09%)

10:55
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PLNT

Planet Fitness

$59.40

1.14 (1.96%)

10:50
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FDX

FedEx

$178.46

-3.82 (-2.10%)

, AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

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FDX

FedEx

$178.46

-3.82 (-2.10%)

AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

STMP

Stamps.com

$84.82

-113.26 (-57.18%)

UPS

UPS

$109.32

-2.44 (-2.18%)

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TROX

Tronox

$11.80

0.45 (3.96%)

10:40
02/22/19
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Options
Bullish call flow in Tronox ahead of earnings next week »

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C

Citi

$64.24

-0.07 (-0.11%)

, INTC

Intel

$52.73

1.33 (2.59%)

10:39
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02/22
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10:39
On The Fly
Citi, Intel upgrades, Roku, Nordstrom downgrades among today's top analyst calls »

Check out today's top…

C

Citi

$64.24

-0.07 (-0.11%)

INTC

Intel

$52.73

1.33 (2.59%)

ROKU

Roku

$59.51

8.04 (15.62%)

JWN

Nordstrom

$43.50

-0.97 (-2.18%)

KHC

Kraft Heinz

$34.95

-13.24 (-27.47%)

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  • 13

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EA

Electronic Arts

$93.86

-2.97 (-3.07%)

10:37
02/22/19
02/22
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10:37
Periodicals
EA starts massive round of layoffs at Australian studio, Kotaku reports »

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PYX

Pyxus

$24.70

-1.46 (-5.58%)

10:36
02/22/19
02/22
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10:36
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Pyxus initiated  »

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XRX

Xerox

$31.60

0.26 (0.83%)

10:30
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Downside hedge opened in Xerox April options »

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W

Wayfair

$149.39

32.25 (27.53%)

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Stocks higher as trade talks continue »

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ACER

Acer Therapeutics

$24.25

0.38 (1.59%)

10:25
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Conference/Events
William Blair biotech analysts to hold an analyst/industry conference call »

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AVEO

Aveo Pharmaceuticals

$0.62

0.0006 (0.10%)

, BMY

Bristol-Myers

$50.47

0.32 (0.64%)

10:25
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Conference/Events
Piper Jaffray biotech analysts to hold an analyst/industry conference call »

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AVEO

Aveo Pharmaceuticals

$0.62

0.0006 (0.10%)

BMY

Bristol-Myers

$50.47

0.32 (0.64%)

EXEL

Exelixis

$21.28

0.06 (0.28%)

IMMU

Immunomedics

$14.34

0.01 (0.07%)

JNJ

Johnson & Johnson

$135.83

0.43 (0.32%)

MRK

Merck

$80.55

0.73 (0.91%)

NKTR

Nektar

$40.10

-0.16 (-0.40%)

PFE

Pfizer

$42.89

0.75 (1.78%)

SGEN

Seattle Genetics

$69.99

0.74 (1.07%)

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10:25
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Conference/Events
Cowen consumer analysts to hold an analyst/industry conference call »

Consumer Analysts Kernan…

XEC

Cimarex Energy

$73.78

0.45 (0.61%)

, REN

Resolute Energy

$31.93

0.41 (1.30%)

10:25
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Conference/Events
Resolute Energy to host special shareholder meeting »

Special Shareholder…

XEC

Cimarex Energy

$73.78

0.45 (0.61%)

REN

Resolute Energy

$31.93

0.41 (1.30%)

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LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

, QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

10:25
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Conference/Events
Quad/Graphics to host special shareholder meeting »

Special Shareholder…

LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

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QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

, LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

10:25
02/22/19
02/22
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10:25
Conference/Events
LSC Communications to host special shareholder meeting »

Special Shareholder…

QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

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ELGX

Endologix

$0.54

0.0223 (4.27%)

10:25
02/22/19
02/22
10:25
02/22/19
10:25
Conference/Events
Endologix to host special shareholder meeting »

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ACAM

Acamar Partners

$0.00

(0.00%)

10:23
02/22/19
02/22
10:23
02/22/19
10:23
Syndicate
Acamar Partners opens at $10.01, IPO priced at $10.00 per share »

Acamar Partners (ACAM)…

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  • 22

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DPLO

Diplomat Pharmacy

$8.56

-4.905 (-36.44%)

10:23
02/22/19
02/22
10:23
02/22/19
10:23
Downgrade
Diplomat Pharmacy rating change  »

William Blair downgrades…

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ECC

Eagle Point Credit

$16.99

0.24 (1.43%)

10:21
02/22/19
02/22
10:21
02/22/19
10:21
Downgrade
Eagle Point Credit rating change  »

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LYB

LyondellBasell

$88.83

0.32 (0.36%)

10:20
02/22/19
02/22
10:20
02/22/19
10:20
Options
Call buyers in LyondellBasell as shares see strength »

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