Travelers Companies (NYSE:TRV) Price Target Raised to $316.00 at Keefe, Bruyette & Woods

Travelers Companies (NYSE:TRV) had its price target lifted by Keefe, Bruyette & Woods from $304.00 to $316.00 in a report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

A number of other analysts have also weighed in on the stock. HSBC lowered shares of Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a report on Monday, March 24th. JPMorgan Chase & Co. raised their price target on shares of Travelers Companies from $260.00 to $271.00 and gave the company an “underweight” rating in a report on Tuesday, April 8th. Barclays lowered shares of Travelers Companies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Wall Street Zen raised shares of Travelers Companies from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Finally, Morgan Stanley set a $269.00 target price on shares of Travelers Companies and gave the stock an “equal weight” rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $274.61.

Travelers Companies Stock Up 1.5%

Shares of TRV opened at $265.77 on Friday. The stock has a market cap of $60.03 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 3.86 and a beta of 0.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. Travelers Companies has a 12 month low of $202.95 and a 12 month high of $277.83. The company has a 50-day moving average price of $265.92 and a two-hundred day moving average price of $256.24.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $2.99. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The company had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the company posted $2.51 earnings per share. Travelers Companies’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts predict that Travelers Companies will post 17.02 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.66%. Travelers Companies’s dividend payout ratio (DPR) is presently 19.46%.

Insider Activity

In other Travelers Companies news, insider Avrohom J. Kess sold 23,434 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $273.93, for a total transaction of $6,419,275.62. Following the transaction, the insider owned 48,387 shares in the company, valued at $13,254,650.91. This represents a 32.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman William H. Heyman sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $274.50, for a total transaction of $549,000.00. Following the transaction, the insider owned 255,086 shares in the company, valued at approximately $70,021,107. The trade was a 0.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,869 shares of company stock worth $44,868,201. 1.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travelers Companies

Large investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Travelers Companies by 236.9% during the fourth quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock valued at $844,854,000 after buying an additional 2,466,098 shares during the last quarter. Norges Bank acquired a new position in shares of Travelers Companies during the fourth quarter valued at about $560,918,000. GAMMA Investing LLC grew its holdings in shares of Travelers Companies by 31,132.9% during the first quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider’s stock valued at $582,733,000 after buying an additional 2,196,426 shares during the last quarter. Nuveen LLC acquired a new position in shares of Travelers Companies during the first quarter valued at about $294,755,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Travelers Companies by 153.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider’s stock valued at $360,694,000 after buying an additional 907,266 shares during the last quarter. Institutional investors own 82.45% 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.