The Travelers Cos. (NYSE:TRV) had its target price increased by stock analysts at Citigroup Inc. from $117.00 to $123.00 in a research note issued to investors on Tuesday. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 6.63% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Bank of America Corp. raised shares of The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Tuesday, June 28th. They noted that the move was a valuation call. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $111.00 price objective on shares of The Travelers Cos. in a report on Tuesday, August 23rd. Barclays PLC reaffirmed an “equal weight” rating and issued a $109.00 price objective (up previously from $105.00) on shares of The Travelers Cos. in a report on Saturday, October 1st. Finally, Royal Bank Of Canada boosted their price target on shares of The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $117.00.
Shares of The Travelers Cos. (NYSE:TRV) opened at 115.35 on Tuesday. The Travelers Cos. has a 52-week low of $101.23 and a 52-week high of $119.32. The company has a 50-day moving average of $115.64 and a 200 day moving average of $115.07. The stock has a market cap of $33.25 billion, a P/E ratio of 11.10 and a beta of 1.14.
The Travelers Cos. (NYSE:TRV) last released its quarterly earnings data on Thursday, July 21st. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.05. The firm earned $6.79 billion during the quarter, compared to the consensus estimate of $6.37 billion. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.52 earnings per share. Equities research analysts forecast that The Travelers Cos. will post $9.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, September 7th. The Travelers Cos.’s dividend payout ratio (DPR) is presently 25.92%.
In other The Travelers Cos. news, Vice Chairman Jay S. Benet sold 5,797 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $116.21, for a total value of $673,669.37. Following the sale, the insider now directly owns 71,352 shares in the company, valued at $8,291,815.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andy F. Bessette sold 8,554 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $117.58, for a total transaction of $1,005,779.32. Following the completion of the sale, the executive vice president now owns 14,659 shares in the company, valued at $1,723,605.22. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in shares of The Travelers Cos. by 29.7% in the first quarter. Meeder Asset Management Inc. now owns 37,295 shares of the company’s stock valued at $4,352,000 after buying an additional 8,535 shares during the period. Rafferty Asset Management LLC boosted its position in shares of The Travelers Cos. by 18.2% in the first quarter. Rafferty Asset Management LLC now owns 38,917 shares of the company’s stock worth $4,542,000 after buying an additional 6,001 shares in the last quarter. Cypress Wealth Advisors LLC boosted its position in shares of The Travelers Cos. by 0.3% in the first quarter. Cypress Wealth Advisors LLC now owns 4,373 shares of the company’s stock worth $510,000 after buying an additional 11 shares in the last quarter. BB&T Securities LLC boosted its position in shares of The Travelers Cos. by 730.0% in the first quarter. BB&T Securities LLC now owns 152,068 shares of the company’s stock worth $17,747,000 after buying an additional 133,747 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of The Travelers Cos. by 1.3% in the first quarter. Canada Pension Plan Investment Board now owns 8,066 shares of the company’s stock worth $941,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
The Travelers Cos. Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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