Morgan Stanley Maintains An Equal Weight Rating On The Travelers Companies, Inc. (TRV)

The Travelers Companies, Inc. (NYSE:TRV) is among the 12 Best Performing Dow Stocks in 2025. 

A woman signing a policy document while a representative from the insurance company looks on.

According to The Fly on November 17, 2025, Morgan Stanley lifted its price objective for The Travelers Companies, Inc. (NYSE:TRV) from $285 to $295 and retained its Equal Weight rating. Following Q3 results, analyst Bob Huang updated the company’s insurance-sector models. According to Huang, Morgan Stanley anticipates a softening cycle for the property-and-casualty market until 2026.

According to the Q3 earnings report, The Travelers Companies, Inc. (NYSE:TRV) Chairman and CEO Alan Schnitzer stated that net written premiums climbed to $11.5 billion. Business Insurance jumped 3% YoY to $5.7 billion, Bond & Specialty Insurance totaled $1.1 billion, and Personal Insurance reached $4.7 billion.

​​According to Daniel Frey, Chief Financial Officer, The Travelers Companies, Inc. (NYSE:TRV) still anticipates an expense ratio of 28.5% for the entire year 2025 and anticipates keeping it at the same level in 2026. The company’s forecast for fixed-income net investment income has risen to about $810 million after taxes for the fourth quarter of 2025. The Travelers Companies, Inc. (NYSE:TRV) projects fixed-income NII to exceed $3.3 billion in 2026.

Furthermore, Frey stated that the company intends to raise share repurchases to around $1.3 billion in the fourth quarter, pointing out the improved capital position and investment-income projection.

According to Morningstar analysts, The Travelers Companies, Inc. (NYSE:TRV)’ business is surrounded by a tight economic moat due to the strength of its commercial insurance businesses. The firm engages in both commercial and personal insurance lines and offers a wide range of solutions.

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