Travelers Companies (NYSE:TRV) Price Target Raised to $378.00

Travelers Companies (NYSE:TRV) had its target price upped by investment analysts at Cantor Fitzgerald from $377.00 to $378.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 4.89% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Evercore set a $329.00 price objective on shares of Travelers Companies and gave the stock an “in-line” rating in a report on Friday, July 10th. TD Cowen lowered shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price for the company. in a research note on Monday, July 13th. Wells Fargo & Company increased their target price on Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Raymond James Financial set a $430.00 price target on Travelers Companies in a report on Monday, July 20th. Finally, HSBC increased their price objective on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $355.47.

Travelers Companies Price Performance

NYSE TRV opened at $360.39 on Wednesday. The business has a 50 day simple moving average of $370.00 and a 200 day simple moving average of $333.22. Travelers Companies has a 52-week low of $252.26 and a 52-week high of $398.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $75.17 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 2.99 and a beta of 0.43.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results 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. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the firm posted $6.51 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts anticipate that Travelers Companies will post 33.86 earnings per share for the current fiscal year.

Insider Activity at Travelers Companies

In other news, EVP Michael Klein sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the sale, the executive vice president owned 45,125 shares of the company’s stock, valued at approximately $16,519,811.25. This represents a 11.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Rowland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the completion of the transaction, the executive vice president directly owned 10,479 shares of the company’s stock, valued at $3,894,939.51. This represents a 32.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 58,667 shares of company stock worth $21,830,989. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Travelers Companies in the second quarter valued at approximately $6,915,909,000. State Street Corp grew its position in Travelers Companies by 3.1% during the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock worth $4,641,093,000 after buying an additional 486,861 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after acquiring an additional 123,564 shares during the period. Bank of America Corp DE bought a new position in Travelers Companies during the 2nd quarter worth $932,142,000. Finally, GQG Partners LLC acquired a new position in Travelers Companies in the 2nd quarter valued at $789,024,000. 82.45% of the stock is currently owned by institutional investors.

About Travelers Companies

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.