The Travelers Companies, Inc., through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. The Business Insurance segment offers workers' compensation, commercial automobile and property, general liability, commercial multi-peril, employers' liability, public and product liability, professional indemnity, marine, aviation, onshore and offshore energy, construction, terrorism, personal accident, and kidnap and ransom insurance products. This segment operates through select accounts, which serve small businesses; commercial accounts that serve mid-sized businesses; national accounts, which serve large companies; and national property and other that serve large and mid-sized customers, commercial trucking industry, and agricultural businesses, as well as markets and distributes its products through brokers, wholesale agents, and program managers. The Bond & Specialty Insurance segment provides surety, fidelity, management and professional liability, and other property and casualty coverages and related risk management services through independent agencies and brokers. The Personal Insurance segment offers property and casualty insurance covering personal risks, primarily automobile and homeowners' insurance to individuals through independent agencies and brokers. The Travelers Companies, Inc. was founded in 1853 and is based in New York, New York.

Travelers’ strong profitability is accompanied by a notable premium on book valuation, and that is exactly what makes the picture less straightforward. A P/E of 10.05 and a P/FCF of 7.56 look moderate and below the industry medians, which supports the idea of undervaluation on earnings and cash flow. At the same time, a P/B of 2.07 is significantly above the industry median, meaning the market is already pricing in high capital quality and business resilience. This is confirmed by very strong ROE of 25.44%, ROA of 5.75%, and ROI of 19.81%, all of which materially exceed the industry and are improving over time. Margins also look healthy: net margin of 15.42% and operating margin of 22.03% remain high and are rising, indicating good expense control and underwriting discipline. Revenue, EBITDA, operating profit, and net profit are generally holding at high levels, while the year-by-year trend shows the company’s ability to generate stable results. The balance sheet does not appear overly burdened by debt either: debt/equity of 0.27 is below the industry median, and long-term debt is relatively moderate and does not seem to be putting pressure on valuation. The weak spot is liquidity: quick ratio is 0.00 and current ratio is 0.27, which is partly explainable for an insurer by the structure of its balance sheet, but still calls for caution. Dividend yield has fallen to zero in the latest observation after higher levels previously, so the dividend argument does not currently support a higher valuation. Overall, the fundamentals are rather strong, but the stock is no longer cheap enough to justify an aggressive upward revision of the target price. For an investor, this means the base valuation deserves only a moderate downward adjustment because of the high book-value premium and weaker dividend factor, despite strong profitability and capital efficiency.

The Travelers Companies, Inc.

Сильный индекс, без изменений. Быки в растерянности.

Strong index, flat. The bulls are confused.

Сильный индекс, значительно упал. Рынок не поддерживает быков.

Strong index, significantly down. The market does not support the bulls.

Средний индекс, незначительно вырос. Отток средств из лонгов на высоком уровне.

Medium index, slightly up. Outflow of funds from longs at a high level.

TRV demonstrates strong profitability and low debt, but a high valuation and weak liquidity limit upside potential.

(RTTNews) - The Travelers Companies Inc. (TRV) announced a profit for its third quarter that Increases, from the same period last year
The company's earnings came in at $1.917 billion, or $9.04 per share. This compares with $1.888 billion, or $8.24 per share, last year.
Excluding items, The Travelers Companies Inc. reported adjusted earnings of $1.947 billion or $9.18 per share for the period.
The company's revenue for the period fell 0.5% to $12.412 billion from $12.470 billion last year.
The Travelers Companies Inc. earnings at a glance (GAAP) :
-Earnings: $1.917 Bln. vs. $1.888 Bln. last year. -EPS: $9.04 vs. $8.24 last year. -Revenue: $12.412 Bln vs. $12.470 Bln last year.

The Travelers Companies Inc. Bottom Line Climbs In Q3

(RTTNews) - The Travelers Companies Inc. (TRV) will host a conference call at 9:00 AM ET on Oct. 16, 2026, to discuss Q3 26 earnings results.
To access the live webcast, log on to http://investor.travelers.com
To listen to the call, dial 833-461-5787 (US) or 585-542-9983 (International).
For a replay call, dial 833-309-1852 (US) or 929-828-5978 (International) with conference ID 686305383.

The Travelers Companies Q3 26 Earnings Conference Call At 9:00 AM ET

The NASDAQ 100 After Hours Indicator is up 23.14 to 30,748.95. The total After hours volume is currently 155,853,400 shares traded.
The following are the most active stocks for the after hours session:
Moderna, Inc. (MRNA) is -1 at $196.00, with 12,642,180 shares traded. MRNA's current last sale is 156.8% of the target price of $125.
NVIDIA Corporation (NVDA) is +0.5 at $230.98, with 5,707,914 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Invesco QQQ Trust, Series 1 (QQQ) is +0.77 at $748.35, with 3,730,242 shares traded. This represents a 34.69% increase from its 52 Week Low.
Intel Corporation (INTC) is +0.3483 at $107.43, with 3,651,596 shares traded. INTC's current last sale is 93.82% of the target price of $114.5.
Apple Inc. (AAPL) is -0.12 at $340.30, with 3,148,670 shares traded. AAPL's current last sale is 101.58% of the target price of $335.
Trevi Therapeutics, Inc. (TRVI) is +0.005 at $12.83, with 3,078,801 shares traded. As reported in the last short interest update the days to cover for TRVI is 8.786797; this calculation is based on the average trading volume of the stock.

After Hours Most Active for Oct 8, 2026 : MRNA, NVDA, QQQ, INTC, AAPL, TRVI

American International Group, Inc. AIG is scaling artificial intelligence across underwriting and claims, but the financial impact remains difficult to isolate. The initiative is particularly relevant as the insurance market becomes more competitive and insurers face greater pressure to maintain underwriting margins. These capabilities could improve risk selection, increase underwriting capacity and reduce processing costs, potentially supporting margins as adoption expands.
AIG's clearest evidence of AI's operating impact is in its underwriting workflow. As Underwriting by AIG Assist and Claims by AIG Assist have scaled, underwriters are reviewing more submissions and generating quotes faster. However, the company has not provided comparable quantitative metrics for claims-cycle improvements.
AIG’s broader efficiency metrics are moving in the right direction, although the gains cannot yet be directly linked to AI. General Insurance underwriting income rose 10% year over year to $686 million, while the combined ratio improved 30 basis points to 89.0% and the expense ratio declined 20 basis points to 30.8%. Global Personal showed a sharper improvement, with its general operating expense ratio falling 130 basis points to 13.3% and its combined ratio improving 560 basis points to 92.9%.
These trends point to better operating performance, but more disclosure is needed to determine how much AI is contributing. The key metrics to watch are submission-processing time, quote turnaround, claims-cycle times and productivity as adoption expands. Continued gains alongside measurable improvements in these areas could strengthen the case that AI is translating into tangible financial benefits.
How Are Competitors Faring?
AIG’s Peers in the Finance Space, such as The Travelers Companies, Inc. TRV and Chubb Limited CB, are also leveraging technology and AI to enhance underwriting and claims efficiency.
Travelers has expanded AI across underwriting and claims, including TravelersLLM and its AI Claim Assistant. TRV generated $1.7 billion of total underwriting income in the second quarter, providing a strong operating base for continued technology investments
Chubb is leveraging technology and data to support underwriting and claims efficiency and risk insights. CB reported $1.94 billion in P&C underwriting income in the second quarter, up 18.8%, while its combined ratio improved to 83.8%.
AIG’s Price Performance, Valuation & Estimates
Shares of American International have lost 4.7% over the past year against the industry’s 3.4% growth over the same period.
Image Source: Zacks Investment Research
From a valuation standpoint, AIG trades at a trailing 12-month price-to-tangible book ratio of 1.06, below the industry average of 1.23. AIG carries a Value Score of A.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AIG’s 2026 earnings is pegged at $8.02 per share, indicating 13.1% year-over-year growth, followed by an estimated 8.7% increase in 2027.
AIG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Here's How AIG's AI Push Can Improve Underwriting and Claims Efficiency

For Immediate Release
Chicago, IL – September 25, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The Travelers Companies Inc. TRV, Universal Insurance Holdings UVE, American Integrity Insurance Group AII and United Fire Group UFCS.
Here are highlights from Thursday’s Analyst Blog:
Global Commercial Pricing Soft: 4 P&C Insurers Will Protect Your Portfolio
Global commercial insurance is in a soft market phase. Rates fell 5% in the first quarter of 2026, followed by 6% in the second, marking eight consecutive quarterly declines. This is a sharp reversal from the 22% increase recorded in the fourth quarter of 2020.
Property has led the softening, with global rates down 12% in the last quarter, as abundant capacity and reinsurer competition let buyers negotiate on both cost and program structure.
However, the clear outlier is casualty. While every other major line has softened, U.S. casualty rates continued rising (rates rose 7% in the second quarter), driven by loss severity and litigation pressure.
In this backdrop, The Travelers Companies Inc., Universal Insurance Holdings, American Integrity Insurance Group and United Fire Group stand tall to weather the odds.
What's Driving the Softening?
Strong insurer profits, surplus capital, lower reinsurance costs and higher investment returns have intensified competition. Insurers are offering broader coverage, more flexible terms and lower deductibles alongside reduced prices — a sign of a market with more capacity than demand can absorb.
Overall commercial rates fell 16% in IMEA and 13% in the Pacific.
What Lies Ahead?
A major catastrophe could tighten property capacity, while persistent U.S. liability losses could sustain casualty pricing pressure. For non-life insurers, careful risk selection and sound casualty reserves will matter more as premium growth slows. Geographic diversification and brokerage businesses may provide some resilience, while investment income can support earnings.
The Federal Reserve's recent 25-basis-point rate increase (hinted at one more this year) may help investment income, but underwriting discipline remains the key differentiator.
Top Picks
With the help of our Zacks Stock Screener, we have identified the best bets. The shortlisted stocks carry a Zacks Rank #1 (Strong Buy) or #2 (Buy). Each has rallied more than 20% year to date and has a favorable Value Score.
The Zacks Consensus Estimate for 2026 and 2027 earnings has witnessed northbound revision in the past 60 days. You can see the complete list of today's Zacks #1 Rank stocks here.
Based in New York, NY, Travelers Companies remains a leading writer of automobile and homeowners insurance and a major U.S. commercial property and casualty carrier. A broad product portfolio, high retention rate, pricing gains, positive renewal rate changes, strong capital position, inorganic growth and prudent underwriting practices position Travelers well. Continued technology investment, refined pricing and segmentation, a high-quality fixed-income portfolio and consistent capital returns should sustain earnings growth and shareholder value. However, weather volatility, loss-cost inflation, reinsurance expenses and changing pricing conditions remain risks for this Zacks Rank #2 insurer.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 3% and 0.8% north, respectively, in the past 60 days. It is trading at a trailing 12-month price-to-book value of 2.27X and has a Value Score of B. It has a beta of 0.44. Shares have gained 24.8% year to date.
Headquartered in Fort Lauderdale, FL. Universal Insurance Holdings is a vertically integrated insurance holding company. Its wholly owned insurance subsidiaries, UPCIC and APPCIC, are principally engaged in the property and casualty insurance business. Universal Insurance should benefit from Florida's post-reform claims environment, which is lowering loss costs and litigation exposure. Disciplined market selection and rate-focused underwriting support measured growth across Florida and other states. However, Florida remains the dominant source of catastrophe risk, and multiple severe events could disrupt earnings and capital deployment of this Zacks Rank #2 company.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 4.8% and 1.1% north, respectively, in the past 60 days. It is trading at a trailing 12-month price-to-book value of 1.86X and has a Value Score of A. It has a beta of 0.72. Shares have gained 27.3% year to date.
American Integrity Insurance Group, headquartered in Tampa, FL, operates as an insurance company in the United States. American Integrity's performance is being driven by rapid voluntary-policy growth, particularly in Florida's Tri-County region, middle-aged homes and expansion markets. The company appears well-positioned for profitable long-term growth, supported by geographic expansion, disciplined risk selection, Florida's insurance reforms and lower catastrophe-reinsurance pricing. However, its heavy Florida exposure and vulnerability to hurricanes could make earnings volatile and temper the consistency of that growth.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 40% and 5.4% north, respectively, in the past 60 days. Its expected long-term earnings growth rate is pegged at 8%. The stock currently has a P/B ratio of 1.32. It has a Value Score of A. Its shares have gained 24.6% year to date and sports a Zacks Rank #1.
Headquartered in Cedar Rapids, IA, United Fire Group engages in writing property and casualty insurance in the United States. With a portfolio offering a wide range of products, including property, casualty, commercial lines, specialty lines and surety bonds, United Fire Group has a strong presence in the Midwestern U.S. This also exposes the insurer to geographic concentration. Core commercial new business production is growing as small businesses, construction, and the middle market are collectively contributing. Prudent pricing and risk selection, stable retention and higher new business should drive premiums.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 2.5% and 5% north, respectively, in the past 60 days. It has a beta of 0.52. The stock currently has a P/B ratio of 1.41. It has a Value Score of A. Its shares have gained 47.7% year to date and sports a Zacks Rank #1.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Travelers, Universal Insurance, American Integrity Insurance and United Fire

Global commercial insurance is in a soft market phase. Rates fell 5% in the first quarter of 2026, followed by 6% in the second, marking eight consecutive quarterly declines. This is a sharp reversal from the 22% increase recorded in the fourth quarter of 2020.
Property has led the softening, with global rates down 12% in the last quarter, as abundant capacity and reinsurer competition let buyers negotiate on both cost and program structure.
However, the clear outlier is casualty. While every other major line has softened, U.S. casualty rates continued rising (rates rose 7% in the second quarter), driven by loss severity and litigation pressure.
In this backdrop, The Travelers Companies Inc. TRV, Universal Insurance Holdings UVE, American Integrity Insurance Group AII and United Fire Group UFCS stand tall to weather the odds.
What is Driving the Softening?
Strong insurer profits, surplus capital, lower reinsurance costs and higher investment returns have intensified competition. Insurers are offering broader coverage, more flexible terms and lower deductibles alongside reduced prices — a sign of a market with more capacity than demand can absorb.
Overall commercial rates fell 16% in IMEA and 13% in the Pacific.
What Lies Ahead?
A major catastrophe could tighten property capacity, while persistent U.S. liability losses could sustain casualty pricing pressure. For non-life insurers, careful risk selection and sound casualty reserves will matter more as premium growth slows. Geographic diversification and brokerage businesses may provide some resilience, while investment income can support earnings.
The Federal Reserve’s recent 25-basis-point rate increase (hinted at one more this year) may help investment income, but underwriting discipline remains the key differentiator.
Top Picks
With the help of our Zacks Stock Screener, we have identified the best bets. The shortlisted stocks carry a Zacks Rank #1 (Strong Buy) or #2 (Buy). Each has rallied more than 20% year to date and has a favorable Value Score.
The Zacks Consensus Estimate for 2026 and 2027 earnings has witnessed northbound revision in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Based in New York, NY, Travelers Companies remains a leading writer of automobile and homeowners insurance and a major U.S. commercial property and casualty carrier. A broad product portfolio, high retention rate, pricing gains, positive renewal rate changes, strong capital position, inorganic growth and prudent underwriting practices position Travelers well. Continued technology investment, refined pricing and segmentation, a high-quality fixed-income portfolio and consistent capital returns should sustain earnings growth and shareholder value. However, weather volatility, loss-cost inflation, reinsurance expenses and changing pricing conditions remain risks for this Zacks Rank #2 insurer.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 3% and 0.8% north, respectively, in the past 60 days. It is trading at a trailing 12-month price-to-book value of 2.27X and has a Value Score of B. It has a beta of 0.44. Shares have gained 24.8% year to date.
Headquartered in Fort Lauderdale, FL. Universal Insurance Holdings is a vertically integrated insurance holding company. Its wholly owned insurance subsidiaries, UPCIC and APPCIC, are principally engaged in the property and casualty insurance business. Universal Insurance should benefit from Florida’s post-reform claims environment, which is lowering loss costs and litigation exposure. Disciplined market selection and rate-focused underwriting support measured growth across Florida and other states. However, Florida remains the dominant source of catastrophe risk, and multiple severe events could disrupt earnings and capital deployment of this Zacks Rank #2 company.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 4.8% and 1.1% north, respectively, in the past 60 days. It is trading at a trailing 12-month price-to-book value of 1.86X and has a Value Score of A. It has a beta of 0.72. Shares have gained 27.3% year to date.
American Integrity Insurance Group, headquartered in Tampa, FL, operates as an insurance company in the United States. American Integrity’s performance is being driven by rapid voluntary-policy growth, particularly in Florida’s Tri-County region, middle-aged homes and expansion markets. The company appears well-positioned for profitable long-term growth, supported by geographic expansion, disciplined risk selection, Florida’s insurance reforms and lower catastrophe-reinsurance pricing. However, its heavy Florida exposure and vulnerability to hurricanes could make earnings volatile and temper the consistency of that growth.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 40% and 5.4% north, respectively, in the past 60 days. Its expected long-term earnings growth rate is pegged at 8%. The stock currently has a P/B ratio of 1.32. It has a Value Score of A. Its shares have gained 24.6% year to date and sports a Zacks Rank #1.
Headquartered in Cedar Rapids, IA, United Fire Group engages in writing property and casualty insurance in the United States. With a portfolio offering a wide range of products, including property, casualty, commercial lines, specialty lines and surety bonds, United Fire Group has a strong presence in the Midwestern U.S. This also exposes the insurer to geographic concentration. Core commercial new business production is growing as small businesses, construction, and the middle market are collectively contributing. Prudent pricing and risk selection, stable retention and higher new business should drive premiums.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved 2.5% and 5% north, respectively, in the past 60 days. It has a beta of 0.52. The stock currently has a P/B ratio of 1.41. It has a Value Score of A. Its shares have gained 47.7% year to date and sports a Zacks Rank #1.
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Global Commercial Pricing Soft: 4 P&C Insurers to Protect Portfolio

American International Group, Inc.’s AIG property business is facing a more competitive pricing environment as additional capacity pressures rates, particularly in North America. Rather than chasing premium growth, AIG is reducing exposure where pricing no longer supports adequate risk-adjusted returns.
AIG’s Lexington property business reflects this discipline. Premium retention declined 9 percentage points in the second quarter as AIG reduced targeted exposures and walked away from business that failed to meet its underwriting standards. These actions, along with softer pricing, reduced growth in North America by more than 3 percentage points. The insurer continues to pursue selective opportunities in North America Retail Property, while International Property remains relatively more favorable as rate declines are more moderate.
AIG is still generating growth elsewhere. General Insurance net premiums written increased 9% year over year, or 11% excluding North America Property, highlighting stronger momentum across better-priced businesses. Underwriting performance also remains solid. General Insurance underwriting income rose 10% to $686 million, while the adjusted accident-year combined ratio improved 30 basis points to 88.1%. However, North America Commercial’s adjusted accident-year combined ratio increased 50 basis points, reflecting business-mix changes and rate pressure, particularly in property.
Casualty provides another area of pricing support, with North America Retail Casualty pricing rising 10%, including a 14% increase in Excess Casualty. Pricing in these businesses remains above loss-cost trends, giving room to pursue growth where returns are attractive. AIG’s shift toward better-priced businesses should help protect underwriting profitability as market conditions evolve.
How Are Competitors Faring?
Peers such as The Travelers Companies, Inc. TRV and Chubb Limited CB are also emphasizing underwriting discipline as property pricing becomes more competitive.
TRV is prioritizing underwriting discipline as property pricing softens. National Property net premiums written declined 2% in the second quarter as Travelers reduced business where pricing and terms were less attractive.
Similarly, CB is accepting slower property growth to maintain underwriting discipline amid soft conditions in large-account and E&S property. Chubb’s P&C premiums rose 3%, or 6.3% excluding these property lines, while the combined ratio was 83.8%.
AIG’s Price Performance, Valuation & Estimates
Shares of American International have lost 3.5% over the past year against the industry’s 4.1% growth over the same period.
Image Source: Zacks Investment Research
From a valuation standpoint, AIG trades at a trailing 12-month price-to-tangible book ratio of 1.08X, below the industry average of 1.25X. AIG carries a Value Score of A.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AIG’s 2026 earnings is pegged at $8.02 per share, indicating 13.1% year-over-year growth, followed by an estimated 8.7% increase in 2027.
AIG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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How AIG Is Protecting Underwriting Quality as Property Pricing Softens

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
The Hanover Insurance Group (THG) is a stock many investors are watching right now. THG is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 10.86 right now. For comparison, its industry sports an average P/E of 26.48. Over the past 52 weeks, THG's Forward P/E has been as high as 13.52 and as low as 10.12, with a median of 11.25.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. THG has a P/S ratio of 1.12. This compares to its industry's average P/S of 1.3.
Another great Insurance - Property and Casualty stock you could consider is The Travelers Companies (TRV), which is a Zacks Rank of #2 (Buy) stock with a Value Score of A.
The Travelers Companies is trading at a forward earnings multiple of 11.60 at the moment, with a PEG ratio of 2.87. This compares to its industry's average P/E of 26.48 and average PEG ratio of 3.15.
TRV's price-to-earnings ratio has been as high as 14.64 and as low as 11.13, with a median of 12.44, while its PEG ratio has been as high as 4.80 and as low as 1.01, with a median of 2.83, all within the past year.
Additionally, The Travelers Companies has a P/B ratio of 2.11 while its industry's price-to-book ratio sits at 1.41. For TRV, this valuation metric has been as high as 2.22, as low as 1.85, with a median of 2.07 over the past year.
These are just a handful of the figures considered in The Hanover Insurance Group and The Travelers Companies's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that THG and TRV is an impressive value stock right now.
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This article originally published on Zacks Investment Research (zacks.com).

Is The Hanover Insurance Group (THG) a Great Value Stock Right Now?

Key Points
The Nasdaq Composite rose 0.3% and set a fresh intraday record while the Dow fell 0.6%.
Financial stocks removed about 286 points from the Dow, led by JPMorgan Chase's 3.5% drop on little news.
Trump and Xi Jinping will meet on Thursday to discuss AI, tariffs, rare earths, and the Iran war.
The major market indexes displayed their differences on Tuesday morning. The Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 0.3% as of 12:06 p.m. ET. Meanwhile, the Dow Jones Industrial Average (DJINDICES: ^DJI) fell 0.6%. Between these extremes, the S&P 500 (SNPINDEX: ^GSPC) essentially stayed flat with a 0.1% drop. The Nasdaq index set a fresh intraday high at 10:35 a.m. ET.
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Memory chips rose while banks fell
The Dow's problem was every financial stock, all at once. JPMorgan Chase (NYSE: JPM) fell 3.5% and took out 72 Dow points. Travelers (NYSE: TRV) dropped 2.8% for another 62 points, and Visa's (NYSE: V) 2.4% dip accounted for 53 Dow points. Altogether, financial stocks took 286 points off the index. Try as I might, I found no company-specific news to explain any of it.
That suggests a gloomy day for macroeconomics, but I'm still looking for evidence of that. Oil prices are down as Iran set up a framework to maybe, perhaps, possibly reopen the Strait of Hormuz within a week. There's also progress on reopening the damaged East-West pipeline in Saudi Arabia. Still, large energy stocks barely moved on the news.
I can't point to rising Treasury yields, either. Both long- and short-term bonds saw their yields slide slightly lower today.
As for the cap-weighted indexes, nothing is moving their scores by at least 0.1% (my personal threshold for analysis in this series). It's as if Wall Street is holding its breath, waiting for something big. It can't be the United Nations summit, which is already underway. Hold that thought.
The Nasdaq Composite is up for a reason, though. Memory stocks rose this morning, led by a 6.5% gain for Sandisk (NASDAQ: SNDK) and a 3.6% jump in Micron Technology (NASDAQ: MU) prices. Sandisk got a bullish analyst note and joined the S&P 100 (SNPINDEX: XEO) index yesterday. Micron investors are prepping for next week's Q4 2026 earnings report.
The record comes with a caveat
I don't know about "all eyes," but I'm certainly watching Thursday's meeting between Donald Trump and Xi Jinping. Nothing else seems to explain the market's quiet mood today. The meeting should touch on market-moving topics such as AI policies, tariff rates, rare-earth metals trades, and the Iranian conflict.
So there's a record high in one index, a 286-point hole in another, and very little news behind either move. You can cut the tension with a memory stick, or maybe an oil drill.
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The Nasdaq Set a Record and the Dow Lost 270 Points on the Same Morning

The Zacks Property and Casualty Insurance industry is placed within the top 29% of the 247 Zacks industries. It currently carries a Zacks Industry Rank #71. Among U.S. P&C insurers, the Sept. 16, 2026, Federal Reserve rate hike is most relevant to companies with large fixed-income portfolios, meaningful reinvestment opportunities and strong recurring investment income. The benefit is expected to build over time as bonds mature and are reinvested at higher yields.
The Federal Reserve raised the federal funds target range by 25 basis points to 3.75-4%, its first-rate hike since July 2023, citing still-elevated inflation. The move provides an incremental tailwind to insurers’ investment income, although the impact will not be immediate across their entire portfolios.
Investment income receives the most direct benefit from higher interest rates. P&C insurers maintain substantial bond and fixed-income portfolios because premiums are collected before claims are paid, creating investable funds. As securities mature and operating cash is reinvested, insurers can deploy funds at higher prevailing yields. This gradually lifts net investment income (NII), with the benefit depending on portfolio size, asset mix, duration and the pace of reinvestment.
The rate hike is particularly relevant for insurers with shorter-duration investment portfolios. More frequent maturities allow these companies to replace older, lower-yielding securities with higher-yielding investments sooner. Consequently, shorter portfolio duration can enable insurers to translate changes in market interest rates into higher NII more quickly than insurers with longer-duration portfolios.
Higher interest rates can also help offset softer P&C insurance pricing. As pricing growth moderates and competition increases, premium growth and underwriting margins may face greater pressure. Higher investment yields can provide an earnings cushion by increasing NII, particularly for insurers with substantial fixed-income portfolios and significant near-term reinvestment opportunities. Thus, while the full benefit of the Sept. 16 rate hike will emerge gradually, the higher-rate environment can support overall profitability as insurers continue to reinvest premiums, claims reserves and maturing securities at more attractive yields.
The insurance industry has returned 3.6% in the past year compared with the Finance sector’s growth of 7.3% and the Zacks S&P 500 composite’s appreciation of 15.8%.
3 Insurers to Watch
Among U.S. P&C insurers, The Travelers Companies, Inc. TRV, Selective Insurance Group, Inc. SIGI and RLI Corp. RLI are among the companies with meaningful sensitivity to interest rates, given their large fixed-income portfolios and ability to reinvest maturing securities at prevailing yields.
TRV carries a Zacks Rank #2 (Buy), while SIGI and RLI have a Zacks Rank #3 (Hold) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Travelers is sensitive to the Fed’s rate hike because of its large fixed-income portfolio and substantial reinvestment needs. As of June 30, 2026, Travelers had $92.9 billion in fixed-maturity investments, with an average effective duration of five years, while about 25% of its fixed-maturity portfolio is expected to mature over the next three years. This creates a significant opportunity to reinvest maturing securities at higher yields following the Fed’s rate hike. The benefit is already visible in results, where in the second quarter of 2026 net investment income rose 14% to $1.07 billion, with fixed-maturity NII increasing 12% to $930 million, primarily because of higher long-term average yields and a larger investment base. Travelers also expects after-tax fixed-income NII of approximately $840 million in the third quarter and $870 million in the fourth quarter of 2026, based partly on higher reinvestment yields. Thus, the rate hike should support TRV’s investment income over time, although higher rates can also reduce the market value of its existing bonds and temporarily pressure accumulated other comprehensive income and book value.
The Zacks Consensus Estimate for The Travelers’ 2026 earnings per share indicates a year-over-year increase of 22.6%.
The consensus estimate for 2027 revenues indicates an increase of 2.9% from the 2026 estimates.
The consensus estimate for 2026 and 2027 has moved 9.8% and 3% north, respectively, in the past 60 days. Earnings have grown 19.2% in the past five years. The expected long-term earnings growth rate is pegged at 4.4%. TRV delivered a four-quarter average earnings surprise of 41.68%. Shares of TRV have rallied 34.4% in the past year.
Selective Insurance is sensitive to the Fed’s rate hike because of its large fixed-income investment portfolio. As of Dec. 31, 2025, SIGI’s fixed-income portfolio, including short-term investments, had an effective duration of 4.1 years, meaning higher interest rates can reduce the market value of existing bonds but also allow the company to reinvest maturing securities and new operating cash flows at higher yields. SIGI itself notes that rising rates can benefit new and reinvested money even as they pressure the fair value of existing fixed-income investments. This reinvestment benefit is already evident in its results; after-tax NII increased 18% year over year to $119 million in the second quarter of 2026, and first-half NII rose 18% to $232.3 million, prompting SIGI to raise its 2026 after-tax NII guidance to $480 million from $465 million.
The Zacks Consensus Estimate for Selective Insurance’s 2026 earnings per share indicates a year-over-year increase of 9.9%. The consensus estimate for revenues is pegged at $5.46 billion, implying a year-over-year improvement of 2.4%.
The consensus estimate for 2027 earnings and revenues indicates an increase of 7.8% and 0.4%, respectively, from the 2026 estimates.
Earnings have grown 8.3% in the past five years. SIGI earnings surpassed estimates in two of the last four quarters and missed in two, with the average surprise being 5.23%. SIGI shares have risen 12.1% in the past year.
RLI is meaningfully sensitive to the Fed’s rate hike through its investment portfolio and reinvestment income. RLI had about $4.87 billion of investments and cash as of June 30, 2026, with bonds accounting for roughly 80% of its target asset allocation and an average fixed-income duration of 4.7 years. This 4.7-year duration creates a balance between reinvestment upside and bond-price sensitivity, meaning a sustained higher-rate environment could support NII while creating some pressure on reported book value. The Fed’s 25-basis-point hike to 3.75-4.% should allow RLI to reinvest maturing securities and growing operating cash flows at higher yields, supporting further growth in net investment income over time.
The Zacks Consensus Estimate for RLI’s 2026 revenues is pegged at $1.86 billion, implying a year-over-year improvement of 4.8%. The consensus estimate for 2027 revenues indicates an increase of 1.5% from the 2026 estimate. RLI earnings surpassed estimates in three of the last four quarters and missed in one, the average surprise being 18.03%. Shares of the insurer have lost 8.8% in the past year.
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This article originally published on Zacks Investment Research (zacks.com).

Indicator	Apr 26	Jun 26	Jul 26	Aug 26	Oct 26	TTM	Median
P/E	9.08	8.86	10.05	—	—	10.05	12.91
Price/Sales	—	1.49	1.69	1.66	1.74	1.74	2.16
P/B	2.15	2.07	—	—	—	2.07	1.22
P/FCF	7.01	6.67	7.56	—	—	7.56	10.38

Indicator	Apr 26	Jun 26	Jul 26	Aug 26	Oct 26	TTM	Median
EPS	7.71	10.04	10.04	—	9.18	9.18	0.71
EPS Forecast	6.98	5.31	5.31	—	7.07	7.07	0.73
Revenue	—	12.15B	—	—	—	12.15B	90.00M
Gross Profit	—	6.23B	—	—	—	6.23B	—
EBITDA	—	4.84B	—	—	—	4.84B	—

The Travelers Companies, Inc.

Recent quarterly and TTM performance

Valuation

Debts

Efficiency

Other ratios

Revenue

Indicator	Apr 26	Jun 26	Jul 26	Aug 26	Oct 26	TTM	Median
ROE	—	25.44	—	—	—	25.44	11.06
ROA	—	5.75	—	—	—	5.75	1.27
ROI	—	19.81	—	—	—	19.81	7.63
Net Worth	66.64	70.27	—	78.16	—	78.16	1.01
Quick Ratio	—	0.00	—	—	—	0.00	1.42
Current Ratio	—	0.27	—	—	—	0.27	0.98

Indicator	Apr 26	Jun 26	Jul 26	Aug 26	Oct 26	TTM	Median
Net Profit Margin	—	—	—	—	—	15.42	17.62
Operating Margin	—	22.03	—	—	—	22.03	25.00
Gross Margin	—	49.51	—	—	—	49.51	71.98
Return on tangible equity	—	29.49	—	—	—	29.49	12.85