Travelers Companies (NYSE:TRV) Reaches New 52-Week High – Here’s Why

Shares of The Travelers Companies, Inc. (NYSE:TRV) hit a new 52-week high during trading on Wednesday . The company traded as high as $288.39 and last traded at $288.4790, with a volume of 130521 shares trading hands. The stock had previously closed at $286.02.

Analysts Set New Price Targets

Several brokerages have weighed in on TRV. JPMorgan Chase & Co. lifted their target price on Travelers Companies from $289.00 to $297.00 and gave the company an “underweight” rating in a research note on Thursday, October 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Travelers Companies in a research report on Friday, October 17th. Piper Sandler boosted their price target on shares of Travelers Companies from $320.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Wolfe Research initiated coverage on shares of Travelers Companies in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Finally, Wall Street Zen lowered Travelers Companies from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Travelers Companies has a consensus rating of “Hold” and an average price target of $291.31.

Travelers Companies Price Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The company’s 50-day moving average price is $274.70 and its 200-day moving average price is $269.20. The company has a market cap of $64.19 billion, a P/E ratio of 11.32, a P/E/G ratio of 2.38 and a beta of 0.55.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $6.01 by $2.13. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The business had revenue of $11.47 billion for the quarter, compared to analyst estimates of $11.15 billion. During the same period in the previous year, the firm earned $5.24 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $4.40 annualized dividend and a yield of 1.5%. Travelers Companies’s dividend payout ratio (DPR) is currently 17.30%.

Insider Transactions at Travelers Companies

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of Travelers Companies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel S. Frey sold 25,000 shares of Travelers Companies stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $278.25, for a total transaction of $6,956,250.00. Following the completion of the sale, the chief financial officer directly owned 26,932 shares in the company, valued at $7,493,829. This trade represents a 48.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 50,392 shares of company stock valued at $13,945,170 over the last ninety days. 1.46% of the stock is owned by company insiders.

Institutional Trading of Travelers Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. PFG Advisors grew its holdings in shares of Travelers Companies by 108.8% in the 1st quarter. PFG Advisors now owns 4,255 shares of the insurance provider’s stock worth $1,125,000 after acquiring an additional 2,217 shares during the last quarter. Atlas Capital Advisors Inc. lifted its holdings in Travelers Companies by 890.9% in the 1st quarter. Atlas Capital Advisors Inc. now owns 4,558 shares of the insurance provider’s stock worth $1,205,000 after purchasing an additional 4,098 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Travelers Companies by 25.4% during the 1st quarter. BNP Paribas Financial Markets now owns 480,633 shares of the insurance provider’s stock worth $127,108,000 after purchasing an additional 97,247 shares during the last quarter. Larson Financial Group LLC grew its position in Travelers Companies by 74.9% in the 1st quarter. Larson Financial Group LLC now owns 3,441 shares of the insurance provider’s stock worth $910,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in shares of Travelers Companies by 702.5% in the first quarter. Jefferies Financial Group Inc. now owns 11,459 shares of the insurance provider’s stock valued at $3,030,000 after purchasing an additional 10,031 shares in 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.