RPT-BUZZ-PREVIEW: Travelers little changed ahead of results due Wed
Repeats Tuesday's BUZZ with no changes to text
** Shares of Travelers Cos TRV.N are roughly flat at $239.68 on Tues ahead of the insurer's qtrly results due before the bell on Wed
** Analysts expect Q4 rev of $10.75 bln vs $9.99 bln in the yr-ago qtr, and adj EPS of $6.63/shr vs $7.01 a yr ago, according to LSEG
** Investors will be keen for any comments from executives on the Los Angeles wildfires and potential financial losses from them
** Cathy Seifert, vice president at CFRA Research, wrote in a note Fri that Travelers, along with Allstate ALL.N and Chubb CB.N, have exposure to the insured wildfire losses but that their exposure is limited
** "California homeowners constitute 1.4% of TRV's premium base. Its total personal lines exposure is 6.9% of premium base," she wrote, adding that TRV "reportedly stopped writing new policies in early 2024 after sharply curtailing its existing California exposure in 2022 and 2023."
** CFRA has a "hold" rating on TRV
** Overall, of the 26 analysts who cover the co, eight rate the stock a "strong buy " or "buy," 15 rate it a "hold" and three rate it a "sell," based on LSEG data
** The median PT on the stock is $269.00
** Including the session move, TRV is down 0.5% YTD and was up about 26% in 2024, while the Dow is 3.3% YTD vs a gain of 13% in 2024
(Reporting by Caroline Valetkevitch)
((caroline.valetkevitch@thomsonreuters.com))
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