Travelers Companies (NYSE:TRV) Stock Rating Lowered by Zacks Research

Travelers Companies (NYSE:TRV) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently commented on TRV. Keefe, Bruyette & Woods raised their price objective on shares of Travelers Companies from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Travelers Companies in a research report on Tuesday, October 14th. Morgan Stanley upped their price target on shares of Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Barclays set a $313.00 price target on Travelers Companies in a research note on Wednesday, October 8th. Finally, Piper Sandler boosted their target price on Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $294.25.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $292.44 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The stock’s 50-day simple moving average is $281.26 and its 200-day simple moving average is $272.92. Travelers Companies has a fifty-two week low of $230.23 and a fifty-two week high of $296.85. The firm has a market capitalization of $65.23 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.01 by $2.13. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. The company had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $11.15 billion. During the same period in the previous year, the company posted $5.24 EPS. Travelers Companies’s revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Travelers Companies will post 17.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael Frederick Klein sold 8,572 shares of the stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $270.73, for a total transaction of $2,320,697.56. Following the transaction, the executive vice president directly owned 33,638 shares in the company, valued at $9,106,815.74. This represents a 20.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel S. Frey sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $278.25, for a total value of $6,956,250.00. Following the sale, the chief financial officer directly owned 26,932 shares of the company’s stock, valued at approximately $7,493,829. This trade represents a 48.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 46,295 shares of company stock worth $13,011,918. 1.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travelers Companies

Hedge funds have recently made changes to their positions in the business. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Travelers Companies by 134.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 91 shares in the last quarter. Missouri Trust & Investment Co boosted its stake in shares of Travelers Companies by 122.2% in the second quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Delos Wealth Advisors LLC purchased a new stake in Travelers Companies during the 2nd quarter worth $27,000. Finally, Clayton Financial Group LLC acquired a new stake in shares of Travelers Companies during the third quarter valued at about $28,000. Hedge funds and other 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.