Cantor Fitzgerald Issues Positive Forecast for Travelers Companies (NYSE:TRV) Stock Price

Travelers Companies (NYSE:TRV) had its target price lifted by research analysts at Cantor Fitzgerald from $308.00 to $316.00 in a report released on Wednesday, Marketbeat reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 15.98% from the company’s current price.

A number of other research firms have also commented on TRV. The Goldman Sachs Group lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price objective for the company. in a research note on Wednesday, January 7th. Weiss Ratings upgraded Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Piper Sandler raised their target price on Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Jefferies Financial Group raised Travelers Companies to a “hold” rating in a research report on Tuesday, January 6th. Finally, Barclays decreased their price objective on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $299.69.

Travelers Companies Trading Up 0.5%

Shares of NYSE:TRV traded up $1.25 during midday trading on Wednesday, reaching $272.45. The company had a trading volume of 152,269 shares, compared to its average volume of 1,532,688. The company has a fifty day simple moving average of $286.81 and a two-hundred day simple moving average of $275.29. The firm has a market cap of $60.77 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.68 and a beta of 0.52. Travelers Companies has a 1-year low of $230.43 and a 1-year high of $296.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35.

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

Insider Buying and Selling at Travelers Companies

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

Institutional Trading of Travelers Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Valeo Financial Advisors LLC increased its position in shares of Travelers Companies by 71,265.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock valued at $967,646,000 after purchasing an additional 3,611,758 shares during the period. Norges Bank bought a new stake in Travelers Companies in the 2nd quarter valued at $815,013,000. JPMorgan Chase & Co. raised its stake in shares of Travelers Companies by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock valued at $2,040,475,000 after buying an additional 751,715 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Travelers Companies during the 3rd quarter worth about $125,597,000. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of Travelers Companies during the 3rd quarter valued at about $112,051,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

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.