Thomson Reuters (TRI) (PRE) (GNK) (HP) (CNP) (NAT) Downgraded

Thomson Reuters Co. (NYSE: TRI), PartnerRe (NYSE: PRE), Genco Shipping & Trading Ltd (NYSE: GNK), Helmerich & Payne (NYSE: HP), CenterPoint Energy, Inc. (NYSE: CNP) and Nordic American Tanker Shipping (NYSE: NAT) downgraded by analysts.

Thomson Reuters Co. (TRI) was downgraded by RBC Capital from an “Outperform” rating to a “Sector Perform” rating. They have a price target of $42.00 on the company, down from $46.00.

PartnerRe (PRE) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating. They have a price target of $76.00 on the company.

Genco Shipping & Trading Ltd (GNK) was downgraded by Cantor Fitzgerald from a “Hold” rating to a “Sell” rating.

Helmerich & Payne (HP) was downgraded by Duncan Williams from a “Buy” rating to a “Reduce” rating. They have a price target of $72.00 on the company. They cited valuation as the catalyst behind the call.

CenterPoint Energy, Inc. (CNP) was downgraded by Argus from a “Buy” rating to a “Hold” rating.

Nordic American Tanker Shipping (NAT) was downgraded by Cantor Fitzgerald from a “Hold” rating to a “Sell” rating. They have a price target of $16.00 on the company.

Ex-Dividend for (PLT) (PRE) (PSF) (PVD) (RBA) is May 18

The ex-dividend date for Plantronics (NYSE:PLT), PartnerRe Ltd. (NYSE:PRE), Cohen & Steers Select Preferred & Inc (NYSE:PSF), A.F.P Provida SA (NYSE:PVD) and Ritchie Bros. Auctioneers Inc. (NYSE:RBA) is May 18.

Plantronics (PLT) pays a dividend of $0.05 with a yield of 0.55 percent.

PartnerRe Ltd. (PRE) pays a dividend of $0.60 with a yield of 3.02 percent.

Cohen & Steers Select Preferred & Inc (PSF) pays a dividend of $0.17 with a yield of 8.49 percent.

A.F.P Provida SA (PVD) pays a dividend of $3.04 with a yield of 5.84 percent.

Ritchie Bros. Auctioneers Inc. (RBA) pays a dividend of $0.11 with a yield of 1.47 percent.

Travelers (NYSE:TRV), ACE (NYSE:ACE), Arch Capital (Nasdaq:ACGL), PartnerRe (NYSE:PRE) Top P&C Insurance Picks of Barclays

Saying they prefer the high-quality names in the P&C insurance sector, Travelers (NYSE:TRV), ACE (NYSE:ACE), Arch Capital (Nasdaq:ACGL) and PartnerRe (NYSE:PRE) were the leading companies chosen by Barclays.

Barclays says, "U.S. tort costs (a proxy for P&C insurers' claims costs) decreased by 2.7% to $248 billion in 2009 (latest data available), compared to a 1% increase 2008. In 2009, the decline was driven by reduced economic activity which results in fewer opportunities for tort actions. An increase in personal tort costs was more than offset by a decrease in commercial tort costs. Tort costs as a percent of GDP fell to 1.74% in 2009 from 1.76% in 2008 and 1.79% in 2007, and represents the sixth consecutive year of a decline in this ratio, according to a study by Towers Watson.

"Within the P&C insurance sector, we prefer the shares of primary commercial P&C insurers and select diversified reinsurers over the personal lines P&C insurers and insurance brokers. Broadly, we favor the high-quality names with strong balance sheets, excess capital, and attractive valuations: Travelers (TRV), ACE Ltd (ACE), Arch Capital (ACGL), and PartnerRe (PRE). (all rated Overweight)."

Travelers (NYSE:TRV) was trading at $54.48, down $0.11, or 0.20, as of 2:31 PM EST. ACE was at $60.71, down $0.14, or 0.23 percent. Arch Capital was at $87.53, down $0.44, or 0.50 percent. PartnerRE was at $80.84, down $0.68, or 0.83 percent.

Travelers (NYSE:TRV), ACE (NYSE:ACE), Arch Capital (Nasdaq:ACGL) , PartnerRe (NYSE:PRE) Have Best P&C Outlook for 2011

Heading into 2011, Barclays (NYSE:BCS) says they see the outlook for the P&C insurance sector as "lackluster." Based on the management team differentiator, their favorite picks going forward are Travelers (NYSE:TRV), ACE (NYSE:ACE), Arch Capital (Nasdaq:ACGL) and PartnerRe (NYSE:PRE).

Barclays said, "Entering 2011, our outlook is lackluster for the P&C insurance sector. Positive factors include low valuations and strong capital positions. Challenges for the sector include declining pricing due to excess capital and slack demand, anticipated declines in EPS and ROEs, slowing book value growth, and potential increases in interest rates and inflation. Barring a major catastrophe loss, broad tightening in P&C commercial insurance and reinsurance pricing appears unlikely before 2013.

"Our highest conviction long ideas are Travelers, ACE Ltd, Arch Capital Group and PartnerRe Ltd because we believe these companies have superior management teams, can generate top-tier performance, and trade at attractive valuations. On the other hand, we recommend investors use the insurance brokers including MMC, AJG, and BRO as a source of funds because of expensive valuations and headwinds from soft P&C market conditions as well as a slow economic recovery. Separately, our outlook could become more favorable on shares of Bershire H (NYSE:BRK.B), Progressive (NYSE:PGR), and Chubb (NYSE:CB) if their valuations became more attractive.

"P&C insurers' book values could experience negative mark to market losses in 4Q10 (the first time in roughly one year) due to rising interest rates, which we estimate could be 5% of book value on average. P&C insurers with the highest impact to book value could be XL Capital (NYSE:XL) (-9% of BV), TRV (-8%) and Everest Re Group (NYSE:RE) (-7%). Berkshire Hathaway's book value, on the other hand, could benefit by about a 2% mark-to-market investment gain due to its higher exposure to equities.

"In addition, we are lowering our 2011 EPS outlook for Aon Corporation (NYSE:AON) and Arthur J Gallagher (NYSE:AJG) to reflect less margin expansion than previously anticipated. We are also raising our 2011 EPS estimate for PRE and FSR to reflect higher than projected share repurchase activity."

Travelers closed Monday at $55.45, up $0.27, or 0.49 percent. Ace closed at $60.96, down $0.09, or 0.15 percent. Arch Capital was down to $88.26, losing $0.40, or 0.45 percent. PartnerRe closed at $77.78, up $0.05, or 0.06 percent.

PartnerRe (NYSE:PRE) Earthquake Losses More Than Expected

PartnerRe (NYSE:PRE) had their EPS estimates lowered on them by Barclays (NYSE:BCS), citing losses from the earthquake as higher than expected.

Barclays noted, "PartnerRe increased its estimated loss from the 3Q10 New Zealand earthquake to $140 mn-$160 mn from $64 mn based a review of recent information received from several cedants, which reflects the higher than expected number of new claims filed in November and December and engineering reports regarding the extent of land damage. PRE estimates industry insured losses from the New Zealand earthquake are $4.5 bn-$5.0 bn...As a result, we are lowering our 2010 EPS estimate for PRE to $7.20 from $7.77 to reflect the New Zealand earthquake loss provision partially offset by our existing 4Q10 catastrophe load."

Barclays reiterates an "Overweight" on PartnerRe, which closed Wednesday at $77.87, down $1.57, or 1.98 percent. They have a price target on them of $90.