Travelers Companies (NYSE:TRV) Price Target Raised to $316.00

Travelers Companies (NYSE:TRV) had its price objective increased by Cantor Fitzgerald from $308.00 to $316.00 in a research note published on Wednesday, MarketBeat reports. Cantor Fitzgerald currently has an overweight rating on the insurance provider’s stock.

TRV has been the topic of several other reports. Zacks Research cut shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Mizuho started coverage on Travelers Companies in a research report on Monday, December 15th. They set a “neutral” rating and a $317.00 price objective for the company. UBS Group boosted their target price on Travelers Companies from $284.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Piper Sandler raised their price target on shares of Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Travelers Companies from $294.00 to $307.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $299.69.

Travelers Companies Stock Down 0.9%

Shares of Travelers Companies stock opened at $269.03 on Wednesday. The company has a market capitalization of $60.01 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.59 and a beta of 0.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50-day moving average of $286.41 and a two-hundred day moving average of $275.25. Travelers Companies has a 1 year low of $230.43 and a 1 year high of $296.85.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.01 by $2.13. The business had revenue of $12.47 billion during the quarter, compared to analyst estimates of $11.15 billion. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.Travelers Companies’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.24 EPS. As a group, equities analysts predict that Travelers Companies will post 17.02 EPS for the current year.

Insider Activity

In other news, Vice Chairman William H. Heyman sold 1,803 shares of Travelers Companies stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $289.55, for a total value of $522,058.65. Following the completion of the transaction, the insider owned 255,086 shares of the company’s stock, valued at $73,860,151.30. This trade represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Frederick Klein sold 8,572 shares of the company’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $270.73, for a total transaction of $2,320,697.56. Following the completion of the sale, the executive vice president directly owned 33,638 shares in the company, valued at approximately $9,106,815.74. The trade was a 20.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 46,295 shares of company stock worth $13,011,918. 1.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Travelers Companies

Several hedge funds have recently bought and sold shares of TRV. Associated Banc Corp increased its stake in shares of Travelers Companies by 1.4% during the second quarter. Associated Banc Corp now owns 2,734 shares of the insurance provider’s stock worth $731,000 after purchasing an additional 39 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Travelers Companies by 1.0% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,093 shares of the insurance provider’s stock valued at $1,143,000 after buying an additional 40 shares in the last quarter. Ibex Wealth Advisors increased its position in Travelers Companies by 1.4% during the 3rd quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider’s stock worth $807,000 after buying an additional 40 shares during the period. ORG Partners LLC increased its position in Travelers Companies by 5.6% during the 2nd quarter. ORG Partners LLC now owns 776 shares of the insurance provider’s stock worth $207,000 after buying an additional 41 shares during the period. Finally, Park Place Capital Corp lifted its holdings in shares of Travelers Companies by 33.1% during the second quarter. Park Place Capital Corp now owns 165 shares of the insurance provider’s stock worth $44,000 after buying an additional 41 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

About Travelers Companies

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.