Travelers Companies (NYSE:TRV) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of Travelers Companies (NYSE:TRV) from a buy rating to a neutral rating in a report issued on Wednesday morning, BenzingaRatingsTable reports. Bank of America currently has $156.00 price target on the insurance provider’s stock.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Travelers Companies to $160.00 and gave the stock a sector perform rating in a research report on Wednesday, July 24th. Deutsche Bank downgraded Travelers Companies from a hold rating to a sell rating and set a $147.11 price objective for the company. in a research report on Thursday, June 27th. ValuEngine downgraded Travelers Companies from a buy rating to a hold rating in a research report on Thursday, August 1st. Buckingham Research downgraded Travelers Companies from a buy rating to a neutral rating and set a $158.00 price objective for the company. in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods downgraded Travelers Companies from an outperform rating to a market perform rating and set a $153.00 price objective for the company. in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $149.29.

Shares of Travelers Companies stock opened at $146.28 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.38 and a quick ratio of 0.38. Travelers Companies has a 1 year low of $111.08 and a 1 year high of $155.09. The company has a market capitalization of $38.14 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.47 and a beta of 0.93. The business has a 50 day moving average price of $147.35 and a 200 day moving average price of $144.68.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $2.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by ($0.30). Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts expect that Travelers Companies will post 10.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.28 annualized dividend and a yield of 2.24%. Travelers Companies’s dividend payout ratio (DPR) is presently 36.69%.

In other Travelers Companies news, Director Philip T. Ruegger III purchased 700 shares of the business’s stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $147.49 per share, for a total transaction of $103,243.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William H. Heyman sold 7,500 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $149.50, for a total value of $1,121,250.00. Following the completion of the transaction, the insider now owns 242,245 shares of the company’s stock, valued at $36,215,627.50. The disclosure for this sale can be found here. Insiders sold a total of 56,566 shares of company stock valued at $8,347,056 over the last quarter. 0.73% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Next Capital Management LLC acquired a new position in Travelers Companies in the 2nd quarter valued at $25,000. Virtus ETF Advisers LLC purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at $25,000. Krane Funds Advisors LLC purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at $25,000. Advantage Investment Management LLC purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at $25,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at $28,000. Institutional investors own 81.39% of the company’s stock.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

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Analyst Recommendations for Travelers Companies (NYSE:TRV)

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