Travelers Companies (NYSE:TRV) Given New $342.00 Price Target at Keefe, Bruyette & Woods

Travelers Companies (NYSE:TRV) had its price target hoisted by investment analysts at Keefe, Bruyette & Woods from $340.00 to $342.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.51% from the company’s current price.

TRV has been the subject of several other reports. Argus upgraded shares of Travelers Companies to a “strong-buy” rating in a research note on Monday, January 26th. Evercore reaffirmed an “outperform” rating on shares of Travelers Companies in a report on Friday. Cantor Fitzgerald upped their price target on shares of Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Wells Fargo & Company upped their price target on shares of Travelers Companies from $285.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Finally, Barclays upped their price target on shares of Travelers Companies from $312.00 to $331.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $308.79.

Travelers Companies Price Performance

Shares of TRV stock opened at $301.29 on Monday. The company has a market capitalization of $64.07 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.78 and a beta of 0.51. The firm has a fifty day simple moving average of $299.50 and a 200-day simple moving average of $288.11. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. Travelers Companies has a twelve month low of $247.81 and a twelve month high of $313.12.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating the consensus estimate of $6.80 by $0.91. The business had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 earnings per share. Equities research analysts anticipate that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Travelers Companies announced that its Board of Directors has authorized a share buyback program on Wednesday, January 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CEO Alan D. Schnitzer sold 55,733 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the sale, the chief executive officer directly owned 260,329 shares of the company’s stock, valued at approximately $76,718,956.30. This represents a 17.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the sale, the executive vice president directly owned 33,638 shares in the company, valued at $10,131,092.84. This trade represents a 22.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 92,845 shares of company stock valued at $27,239,631 over the last three months. 1.46% of the stock is currently owned by company insiders.

Institutional Trading of Travelers Companies

A number of large investors have recently modified their holdings of TRV. Norges Bank acquired a new stake in shares of Travelers Companies in the 4th quarter worth about $723,339,000. State Street Corp increased its holdings in shares of Travelers Companies by 3.1% in the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock worth $4,641,093,000 after acquiring an additional 486,861 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Travelers Companies by 102.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock worth $263,537,000 after acquiring an additional 458,746 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Travelers Companies in the 3rd quarter worth about $112,051,000. Finally, Nordea Investment Management AB increased its holdings in shares of Travelers Companies by 1,641.3% in the 3rd quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock worth $105,537,000 after acquiring an additional 357,687 shares during the period. Institutional investors and hedge funds 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.