NEW YORK (TheStreet) -- BMO Capital Markets raised its price target on Travelers Companies (TRV) - Get Free Reportstock to $113 from $106 on Monday, after the holding company's 2015 third quarter earnings results beat analysts' expectations.
Last week, the Saint Paul-based provider of property casualty insurance reported third quarter earnings of $2.93 per diluted share on revenue of $6.79 billion.
Analysts surveyed by Thomson Reuters had expected the company to report earnings of $2.60 per share on revenue of $5.93 billion.
"Although we still believe that growth will be challenging for TRV in this underwriting cycle, it is important to highlight the 15.2% operating ROE achieved in the quarter, which is higher than any other competitor's in the sector," BMO Capital said.
Shares of Travelers closed up by 0.44% to $112.77 on Monday.
Separately, TheStreet Ratings team rates TRAVELERS COS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
We rate TRAVELERS COS INC (TRV) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: TRV