Wells Fargo & Company Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock

Travelers Companies (NYSE:TRV) had its price objective upped by research analysts at Wells Fargo & Company from $341.00 to $377.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target points to a potential downside of 2.58% from the stock’s current price.

TRV has been the subject of several other research reports. Piper Sandler raised their price objective on Travelers Companies to $340.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Bank of America lifted their price objective on Travelers Companies from $283.00 to $307.00 and gave the stock an “underperform” rating in a research note on Monday, July 20th. Morgan Stanley upped their target price on Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Travelers Companies from $348.00 to $352.00 and gave the company a “neutral” rating in a report on Friday, October 9th. Finally, The Goldman Sachs Group downgraded shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 target price for the company. in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $359.68.

Travelers Companies Trading Down 0.7%

NYSE:TRV traded down $2.56 during trading hours on Monday, hitting $386.98. 631,973 shares of the company were exchanged, compared to its average volume of 1,639,258. The stock has a market capitalization of $80.71 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. Travelers Companies has a one year low of $262.89 and a one year high of $398.70. The company has a fifty day simple moving average of $368.98 and a 200 day simple moving average of $337.82. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Friday, October 16th. The insurance provider reported $9.18 EPS for the quarter, beating analysts’ consensus estimates of $7.39 by $1.79. Travelers Companies had a return on equity of 26.19% and a net margin of 17.03%. The firm had revenue of $12.41 billion for the quarter, compared to analyst estimates of $11.36 billion. During the same quarter in the previous year, the company posted $8.14 EPS. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Travelers Companies will post 34.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel S. Frey sold 14,037 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total value of $5,168,984.88. Following the transaction, the chief financial officer directly owned 27,535 shares of the company’s stock, valued at $10,139,488.40. The trade was a 33.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Yin sold 7,153 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $387.00, for a total value of $2,768,211.00. Following the sale, the executive vice president owned 68,834 shares in the company, valued at approximately $26,638,758. The trade was a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,667 shares of company stock worth $21,830,989 over the last three months. Insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Institutional investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Travelers Companies during the second quarter worth $4,447,000. Bank of Nova Scotia acquired a new stake in Travelers Companies in the second quarter worth $19,949,000. Haverford Trust Co bought a new stake in Travelers Companies in the second quarter valued at $1,723,000. Sumitomo Life Insurance Co. bought a new stake in Travelers Companies in the second quarter valued at $1,676,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Travelers Companies by 34.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,006 shares of the insurance provider’s stock valued at $3,794,000 after purchasing an additional 3,342 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

About Travelers Companies

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers’ compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.