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Travelers “Hold” Rating Reaffirmed by Deutsche Bank; Price Target Raised (TRV)

By Dividend.com,  October 19, 2012, 01:15:25 PM EDT

On Friday analysts at Deutsche Bank reaffirmed the "Hold" rating for The Travelers Companies, Inc. ( TRV ), but raised its price target.

The analysts raised the price target for the property and casualty insurance company to $67, up from $63. The new price target is still below where the stock is currently trading at; it is a drop of -9.4% from Thursday's closing price of $73.94.

Deutsche Bank commented, "The rate actions that Travelers has taken in recent quarters are manifesting in meaningful margin expansion. While we have been concerned that Travelers has been raising rates to outpace losses in workers' compensation and commercial property lines, the continued outsized earnings results show no evidence of this. Double-digit ROEs will be difficult to achieve in 2013 and beyond, but are raising our EPS outlook significantly nonetheless."

Travelers shares were down 48 cents, or -0.64%, in afternoon trading on Friday.

The Bottom Line
Shares of The Travelers Companies ( TRV ) have a 2.49% dividend yield, based on last night's closing stock price of $73.94. The stock has technical support in the $67-$68 price area. The shares are trading near all-time highs.

The Travelers Companies, Inc. ( TRV ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: TRV



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