Travelers price target lowered to $268 from $273 at RBC Capital

RBC Capital lowered the firm’s price target on Travelers (TRV) to $268 from $273 and keeps a Sector Perform rating on the shares after its Q4 results. The company’s Q4 produced healthy underlying combined ratio improvement mainly in the Personal Insurance unit, and while it remains to be seen how much better Personal Insurance margins get from here, prior rate actions and repositioning have been effective, the analyst tells investors in a research note. Travelers’ business insurance results were solid and are generating attractive core margins, the firm added.