Travelers Companies (NYSE:TRV) Hits New 52-Week High – Should You Buy?

The Travelers Companies, Inc. (NYSE:TRV) hit a new 52-week high during trading on Friday. The company traded as high as $418.00 and last traded at $406.5720, with a volume of 253 shares changing hands. The stock had previously closed at $403.18.

Wall Street Analysts Forecast Growth

TRV has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Travelers Companies from $352.00 to $379.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 20th. Truist Financial increased their price objective on shares of Travelers Companies from $425.00 to $435.00 and gave the company a “buy” rating in a report on Monday, October 19th. Evercore decreased their target price on shares of Travelers Companies from $372.00 to $342.00 in a research note on Wednesday, October 28th. Bank of America boosted their target price on Travelers Companies from $301.00 to $320.00 and gave the stock an “underperform” rating in a report on Monday, October 12th. Finally, The Goldman Sachs Group cut Travelers Companies from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $339.00 to $350.00 in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $370.83.

Travelers Companies Stock Up 0.4%

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $82.99 billion, a PE ratio of 10.62, a P/E/G ratio of 2.76 and a beta of 0.40. The business’s 50 day simple moving average is $380.32 and its 200 day simple moving average is $335.21.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Friday, October 16th. The insurance provider reported $9.18 earnings per share for the quarter, beating the consensus estimate of $7.39 by $1.79. The business had revenue of $12.41 billion during the quarter, compared to analysts’ expectations of $11.36 billion. Travelers Companies had a net margin of 17.03% and a return on equity of 26.19%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.14 EPS. As a group, analysts anticipate that The Travelers Companies, Inc. will post 36.27 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be issued a $1.25 dividend. The ex-dividend date is Thursday, December 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Travelers Companies’s dividend payout ratio is currently 13.11%.

Insider Buying and Selling

In related news, CEO Alan Schnitzer sold 88,900 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $396.77, for a total value of $35,272,853.00. Following the completion of the transaction, the chief executive officer directly owned 303,124 shares in the company, valued at approximately $120,270,509.48. This represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory Toczydlowski sold 34,771 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $403.89, for a total value of $14,043,659.19. Following the sale, the executive vice president directly owned 18,416 shares of the company’s stock, valued at approximately $7,438,038.24. This trade represents a 65.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 195,287 shares of company stock valued at $77,818,050 in the last ninety days. Company insiders own 1.39% of the company’s stock.

Institutional Trading of Travelers Companies

A number of hedge funds and other institutional investors have recently modified their holdings of TRV. BlackRock Inc. purchased a new stake in shares of Travelers Companies in the 2nd quarter valued at approximately $6,915,909,000. Dimensional Fund Advisors LP boosted its position in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after purchasing an additional 123,564 shares during the period. Bank of America Corp DE purchased a new position in shares of Travelers Companies during the 2nd quarter worth approximately $932,142,000. GQG Partners LLC purchased a new position in shares of Travelers Companies during the 2nd quarter worth approximately $789,024,000. Finally, First Trust Advisors LP increased its holdings in Travelers Companies by 4.2% in the 3rd quarter. First Trust Advisors LP now owns 1,879,610 shares of the insurance provider’s stock valued at $670,100,000 after purchasing an additional 76,398 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Company Profile

The Travelers Companies, Inc. is a property and casualty insurance provider serving individuals, businesses and organizations. Its products include personal auto and homeowners insurance, as well as commercial coverage such as property, general liability, workers’ compensation and commercial auto insurance. The company also provides surety bonds and specialty insurance, including coverage for businesses and professional services. Travelers distributes many of its products through independent agents and brokers.