Travelers Companies (NYSE:TRV) Given New $319.00 Price Target at Cantor Fitzgerald

Travelers Companies (NYSE:TRV) had its target price lifted by research analysts at Cantor Fitzgerald from $316.00 to $319.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 11.19% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Barclays lowered their price objective on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Jefferies Financial Group raised shares of Travelers Companies to a “hold” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price objective on Travelers Companies from $302.00 to $305.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 7th. Wells Fargo & Company reduced their price target on shares of Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Finally, Citigroup restated a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average target price of $303.00.

Travelers Companies Price Performance

NYSE TRV traded up $2.39 during mid-day trading on Monday, hitting $286.90. The stock had a trading volume of 350,388 shares, compared to its average volume of 1,713,128. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.35. The firm’s 50 day moving average is $284.77 and its 200 day moving average is $276.95. Travelers Companies has a twelve month low of $230.43 and a twelve month high of $296.85. The stock has a market capitalization of $64.00 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.64 and a beta of 0.52.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. Travelers Companies’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.15 EPS. Equities research analysts forecast that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Travelers Companies announced that its board has approved a stock repurchase plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Daniel S. Frey sold 25,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $278.25, for a total value of $6,956,250.00. Following the sale, the chief financial officer owned 26,932 shares in the company, valued at approximately $7,493,829. This represents a 48.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of Travelers Companies stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the completion of the sale, the executive vice president owned 6,075 shares of the company’s stock, valued at $1,699,602.75. This trade represents a 73.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 54,435 shares of company stock valued at $15,366,736. Corporate insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osterweis Capital Management Inc. lifted its position in Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 91 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Travelers Companies in the second quarter worth about $27,000. Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Travelers Companies by 134.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Quaker Wealth Management LLC grew its holdings in shares of Travelers Companies by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 208 shares in the last quarter. Finally, Clayton Financial Group LLC bought a new stake in Travelers Companies in the third quarter worth $28,000. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Company Profile

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.