Recoiled Stocks in Momentum: The Travelers Companies (NYSE:TRV), Wells Fargo & Company (NYSE:WFC)

Shares of The Travelers Companies, Inc. (NYSE:TRV) [Trend Analysis] runs in leading trade, it moving down -0.63% to traded at $122.36. The firm has price volatility of 0.84% for a week and 0.99% for a month. Its beta stands at 1.10 times. The Travelers Companies, Inc. (NYSE:TRV) reported that estimated impact of the recent decision by the UK Ministry of Justice to reduce the discount rate applied to lump-sum bodily injury payouts, known as the Ogden rate, from +2.5% to -0.75%.

Travelers expects to record an increase to prior year loss reserves of approximately $62 million pre-tax ($51 million after-tax) in its first quarter 2017 operating results as a result of the change in discount rate, relating primarily to its Public Liability and Commercial Auto Liability lines of business in the United Kingdom. Approximately two-thirds of the impact relates to certain books of business that the company had previously exited and are currently in run-off. The company expects that any impact to its future operating results as a result of this change will be inimportant. Narrow down four to firm performance, its weekly performance was 0.17% and monthly performance was 1.02%. The stock price of TRV is moving up from its 20 days moving average with 0.13% and isolated positively from 50 days moving average with 2.49%.

Several matter pinch shares of Wells Fargo & Company (NYSE:WFC) [Trend Analysis], as shares moving down -1.77% to $57.63 with a share volume of 17.59 Million. Wells Fargo (WFC) President and CEO Tim Sloan told CNBC Friday that he expects the bank’s future performance to reassure the company’s largest shareholder, Berkshire Hathaway’s Warren Buffett, that the bank is on the right track in recovering from its fake accounts scandal.

Buffett has said that he believes Sloan was the right person to succeed John Stumpf as CEO. Stumpf lost his job last October over the scandal in which up to 2 million deposit and credit accounts were opened without consumers’ authorization as staff sought to meet aggressive sales goals. The stock is going forward its 52-week low with 34.34% and moving down from its 52-week high price with -3.93%. To have technical analysis views, debt to equity ratio of 1.46. The float short ratio was 0.64%, as compared to sentiment indicator; Short Ratio was 1.82.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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