Travelers Companies (NYSE:TRV) Price Target Raised to $352.00

Travelers Companies (NYSE:TRV) had its price target hoisted by JPMorgan Chase & Co. from $348.00 to $352.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

Several other research firms have also recently commented on TRV. BMO Capital Markets cut shares of Travelers Companies from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $314.00 to $379.00 in a research note on Tuesday, July 21st. TD Cowen lowered Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a research note on Monday, July 13th. Roth Capital raised their price objective on Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Barclays raised their price objective on Travelers Companies from $295.00 to $318.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $356.89.

Travelers Companies Stock Performance

Shares of NYSE TRV opened at $368.62 on Friday. The company has a market cap of $76.88 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 3.02 and a beta of 0.43. Travelers Companies has a 12 month low of $252.26 and a 12 month high of $398.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50-day simple moving average of $369.18 and a 200-day simple moving average of $334.70.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.51 earnings per share. On average, equities analysts anticipate that Travelers Companies will post 34.19 earnings per share for the current year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 10th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.

Insider Transactions at Travelers Companies

In related news, EVP Maria Olivo sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $369.86, for a total transaction of $2,219,160.00. Following the completion of the transaction, the executive vice president owned 118,742 shares of the company’s stock, valued at approximately $43,917,916.12. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Yin sold 7,153 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the transaction, the executive vice president directly owned 68,834 shares in the company, valued at approximately $26,638,758. This represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,667 shares of company stock valued at $21,830,989 in the last quarter. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Trust Services Inc. grew its holdings in shares of Travelers Companies by 286.8% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,899 shares of the insurance provider’s stock valued at $677,000 after buying an additional 1,408 shares in the last quarter. Bank of New Hampshire lifted its holdings in shares of Travelers Companies by 1.5% during the 3rd quarter. Bank of New Hampshire now owns 5,871 shares of the insurance provider’s stock worth $2,093,000 after acquiring an additional 88 shares during the period. QRG Capital Management Inc. increased its stake in Travelers Companies by 39.4% in the second quarter. QRG Capital Management Inc. now owns 89,892 shares of the insurance provider’s stock valued at $29,675,000 after acquiring an additional 25,395 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Travelers Companies by 14.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,709 shares of the insurance provider’s stock valued at $2,545,000 after purchasing an additional 977 shares in the last quarter. Finally, Bouchey Financial Group Ltd. bought a new stake in Travelers Companies during the second quarter worth about $234,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Key Stories Impacting Travelers Companies

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Travelers has the potential for an earnings beat, according to Zacks, which cites favorable earnings-estimate revisions and other indicators ahead of the company’s quarterly report. This follows a strong prior quarter in which Travelers substantially exceeded EPS and revenue expectations. Travelers Expected to Beat Earnings Estimates
• Positive Sentiment: Cantor Fitzgerald raised its price target for Travelers, adding to evidence that some analysts see further value in the insurer.
• Positive Sentiment: Travelers was included among insurers positioned to benefit from the expanding embedded-insurance market, a potential longer-term growth opportunity. Insurers Benefiting From Embedded Insurance
• Neutral Sentiment: Investors are focused on Travelers’ upcoming quarterly earnings release, with recent coverage highlighting revised Wall Street expectations and the importance of catastrophe losses, underwriting results and investment income. Wall Street Forecasts Ahead of Travelers Earnings
• Negative Sentiment: JPMorgan raised its price target modestly to $352 but maintained a neutral rating. The target implies roughly 4.5% downside from the referenced market level, limiting the bullish impact of the revision.
• Negative Sentiment: Barclays reiterated a sell rating, while Mizuho lowered its expectations for Travelers’ stock price. These cautious calls likely contributed to pressure on TRV ahead of earnings.

Travelers Companies Company Profile

Travelers Companies, Inc is an insurance provider that offers property and casualty coverage to individuals, businesses and organizations. The company operates through three primary segments: Personal Insurance, Business Insurance, and Bond & Specialty Insurance.

Its products and services include automobile and homeowners insurance, workers’ compensation, commercial property and casualty coverage, general and professional liability insurance, surety and fidelity bonds, and specialized insurance solutions for industries and businesses with complex risks.