Travelers downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette analyst Meyer Shields downgraded Travelers to Market Perform from Outperform with a price target of $356, up from $342. Following recent strength, valuation appears fairly balanced between solid near-term earnings expectations and slowing pricing trends in small-account and middle-market commercial P&C insurance, the analyst tells investors in a research note.