Travelers Companies (NYSE:TRV) Price Target Raised to $256.00

Travelers Companies (NYSE:TRV) had its price target lifted by stock analysts at Wells Fargo & Company from $207.00 to $256.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.37% from the stock’s previous close.

Several other brokerages have also commented on TRV. Morgan Stanley dropped their price target on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Barclays assumed coverage on Travelers Companies in a research note on Wednesday, September 4th. They set an “overweight” rating and a $286.00 price target for the company. Royal Bank of Canada upped their price target on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Friday. Bank of America upped their price target on Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research note on Thursday. Finally, Piper Sandler lowered their target price on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average price target of $238.00.

Travelers Companies Price Performance

Shares of NYSE:TRV traded down $3.23 on Monday, hitting $262.22. The company had a trading volume of 242,203 shares, compared to its average volume of 1,313,897. The business has a 50 day moving average of $231.88 and a 200 day moving average of $219.52. Travelers Companies has a 52-week low of $157.33 and a 52-week high of $269.55. The company has a market cap of $59.77 billion, a PE ratio of 13.45, a PEG ratio of 1.40 and a beta of 0.62. The company has a current ratio of 0.34, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last released its earnings results 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 return on equity of 17.69% and a net margin of 10.02%. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Travelers Companies will post 17.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the sale, the executive vice president now directly owns 22,798 shares in the company, valued at $4,820,409.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several hedge funds have recently modified their holdings of TRV. JPMorgan Chase & Co. grew its holdings in shares of Travelers Companies by 36.8% in 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 during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Travelers Companies by 356.4% in the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock worth $176,589,000 after acquiring an additional 678,241 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Travelers Companies in the 1st quarter worth $88,190,000. Renaissance Technologies LLC boosted its position in shares of Travelers Companies by 324.9% in the second quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock worth $61,324,000 after buying an additional 230,612 shares during the period. Finally, Boston Partners increased its holdings in shares of Travelers Companies by 16.4% in the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock valued at $319,348,000 after purchasing an additional 196,011 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

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.