By Market News Video Staff, Tuesday, October 26, 11:25 AM ET
Analsyt moves in the insurance sector could impact the iShares Dow Jones US Insurance Index ETF (AMEX:IAK) today. Travelers (NYSE:TRV) saw its shares downgraded by Deutsche Bank from hold to sell as share price is getting ahead of expected earnings. Deutsche Bank has a price target of $51, while shares of TRV are trading north of $55 currently. On the positive side of things, Citigroup raised its price target on shares of Chubb (NYSE:CB) up to $60 per share as catastrophe losses should be lower going into 2011.
The good news is outweighing the bad this morning, as the iShares Dow Jones US Insurance Index ETF is higher by about 0.3% today. Of the ETFs 61 holdings, Travlers accounts for 8.2% of the portfolio and Chubb accounts for 5.8%. For a full list of the funds holdings, visit the IAK Holdings page.
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