
Barclays cuts PT on insurer Travelers TRV.N to $312 from $315
New PT is still 9.7% upside to stock's last close
Cites market backdrop is mixed as large account property softens and earned price begins to converge toward trend
Pricing pressure is most acute in large account property programs, while TRV’s core Middle Market and Select Businesses remain comparatively insulated by steadier rate and retention dynamics, brokerage says
Adds personal insurance showed meaningful improvement, with auto benefiting from favorable frequency and moderating severity in bodily injury and vehicle coverage
8 of 28 brokerages rate the stock "buy" or "higher", 18 "hold" and 2 "sell"; their median PT is $304
Including session's move, TRV up 16.4% in last 12 months