Travelers Companies (NYSE:TRV) Given New $330.00 Price Target at Morgan Stanley

Travelers Companies (NYSE:TRV) had its price objective upped by equities researchers at Morgan Stanley from $310.00 to $330.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target indicates a potential downside of 2.43% from the company’s previous close.

Several other equities research analysts also recently issued reports on TRV. Wells Fargo & Company boosted their price objective on shares of Travelers Companies from $285.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $316.00 to $322.00 in a research report on Tuesday, May 26th. Seaport Research Partners set a $322.00 price target on Travelers Companies in a research report on Tuesday, May 26th. HSBC upped their price target on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Brean Capital started coverage on shares of Travelers Companies in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus price target of $313.88.

Travelers Companies Price Performance

Shares of NYSE:TRV traded down $4.08 during midday trading on Monday, hitting $338.23. 125,068 shares of the stock were exchanged, compared to its average volume of 1,633,776. Travelers Companies has a twelve month low of $249.19 and a twelve month high of $343.45. The stock has a market cap of $71.92 billion, a P/E ratio of 10.07, a PEG ratio of 3.09 and a beta of 0.46. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $306.77 and a 200-day moving average price of $298.14.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm had revenue of $11.92 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter last year, the business posted $1.91 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts forecast that Travelers Companies will post 28 earnings per share for the current year.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $13,882,706.25. This represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Diane Kurtzman sold 2,867 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.45, for a total transaction of $869,991.15. Following the completion of the transaction, the executive vice president owned 5,298 shares of the company’s stock, valued at $1,607,678.10. This trade represents a 35.11% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is currently owned by company insiders.

Institutional Trading of Travelers Companies

Several institutional investors and hedge funds have recently modified their holdings of TRV. Brighton Jones LLC raised its position in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after acquiring an additional 387 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies in the 4th quarter worth about $276,000. WINTON GROUP Ltd purchased a new stake in Travelers Companies during the second quarter valued at about $382,000. CIBC Asset Management Inc lifted its holdings in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after purchasing an additional 2,117 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

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.