Piper Sandler Upgrades Travelers Companies (NYSE:TRV) to “Overweight”

Travelers Companies (NYSE:TRV) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Friday, MarketBeat.com reports. The brokerage presently has a $310.00 target price on the insurance provider’s stock, up from their previous target price of $259.00. Piper Sandler’s target price points to a potential upside of 28.23% from the company’s previous close.

A number of other brokerages also recently weighed in on TRV. Royal Bank of Canada reiterated a “sector perform” rating and set a $268.00 price target (down previously from $273.00) on shares of Travelers Companies in a report on Thursday. The Goldman Sachs Group upgraded Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 target price on the stock in a report on Wednesday, January 8th. UBS Group raised their price target on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Bank of America upped their price objective on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price target on shares of Travelers Companies from $213.00 to $225.00 and gave the company an “underweight” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $258.21.

Travelers Companies Trading Down 2.0 %

Shares of TRV opened at $241.75 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. Travelers Companies has a 1-year low of $200.21 and a 1-year high of $269.55. The stock has a market capitalization of $54.88 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.09 and a beta of 0.65. The business’s 50-day moving average price is $248.61 and its 200 day moving average price is $236.77.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The business had revenue of $12.01 billion for the quarter, compared to analyst estimates of $10,795,375 billion. During the same quarter in the previous year, the business earned $7.01 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that Travelers Companies will post 20.33 earnings per share for the current year.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Maria Olivo sold 10,410 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $261.80, for a total value of $2,725,338.00. Following the sale, the executive vice president now directly owns 111,162 shares in the company, valued at $29,102,211.60. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 3,740 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $264.80, for a total transaction of $990,352.00. Following the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at $66,301,683.20. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,670 shares of company stock valued at $4,861,329 in the last 90 days. 1.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travelers Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRV. Wolff Wiese Magana LLC grew its holdings in shares of Travelers Companies by 39.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. True Wealth Design LLC bought a new position in Travelers Companies in the third quarter worth $41,000. Catalyst Capital Advisors LLC acquired a new stake in Travelers Companies during the third quarter worth $50,000. Versant Capital Management Inc raised its stake in shares of Travelers Companies by 581.1% in the 4th quarter. Versant Capital Management Inc now owns 252 shares of the insurance provider’s stock valued at $61,000 after buying an additional 215 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Travelers Companies by 22.1% during the 3rd quarter. Salomon & Ludwin LLC now owns 276 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 50 shares during the period. 82.45% of the stock is currently owned by institutional investors.

About Travelers Companies

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.