StockNews.com Upgrades Travelers Companies (NYSE:TRV) to Buy

StockNews.com upgraded shares of Travelers Companies (NYSE:TRV) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other equities analysts also recently issued reports on TRV. TD Cowen downgraded Travelers Companies from a “buy” rating to a “hold” rating and cut their price objective for the company from $252.00 to $230.00 in a research report on Monday, July 15th. Morgan Stanley cut their price target on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. BMO Capital Markets raised their price objective on shares of Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler reduced their target price on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Bank of America raised their price target on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $247.90.

Travelers Companies Stock Down 0.1 %

TRV opened at $245.64 on Thursday. Travelers Companies has a twelve month low of $165.84 and a twelve month high of $269.55. The firm has a market cap of $55.77 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.18 and a beta of 0.62. The firm’s 50-day simple moving average is $239.19 and its 200-day simple moving average is $221.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Travelers Companies will post 18.53 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.71%. Travelers Companies’s dividend payout ratio is 21.54%.

Insider Activity

In other Travelers Companies news, CEO Alan D. Schnitzer sold 40,524 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the transaction, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Andy F. Bessette sold 4,520 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $253.46, for a total value of $1,145,639.20. Following the sale, the executive vice president now directly owns 16,976 shares of the company’s stock, valued at approximately $4,302,736.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the transaction, the chief executive officer now owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,999 shares of company stock valued at $16,580,166 in the last quarter. Company insiders own 1.33% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Travelers Companies by 36.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after acquiring an additional 3,158,979 shares in the last quarter. Acadian Asset Management LLC increased its stake in Travelers Companies by 356.4% in the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock valued at $176,589,000 after buying an additional 678,241 shares during the last quarter. International Assets Investment Management LLC lifted its position in Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after buying an additional 518,075 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Travelers Companies during the 1st quarter worth about $88,190,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Travelers Companies by 324.9% in the 2nd quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock valued at $61,324,000 after acquiring an additional 230,612 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Company Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.