Cantor Fitzgerald Issues Positive Forecast for Travelers Companies (NYSE:TRV) Stock Price

Key Points

• Cantor Fitzgerald raised its price target for Travelers Companies from $377 to $378 and maintained an “overweight” rating, implying approximately 4.89% upside.
• Travelers reported strong quarterly results, with earnings per share of $10.04 versus the $5.41 consensus estimate and revenue of $12.15 billion versus $11.26 billion expected.
• Analyst sentiment remains mixed: the stock has an overall “Hold” consensus rating and an average price target of $355.47, while insiders have sold 58,667 shares worth about $21.8 million over the past 90 days.

Travelers Companies (NYSE:TRV - Get Free Report) had its price target boosted by investment analysts at Cantor Fitzgerald from $377.00 to $378.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently 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 current price.

Other analysts have also recently issued reports about the company. Zacks Research upgraded Travelers Companies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Piper Sandler raised their target price on Travelers Companies to $340.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Truist Financial boosted their target price on Travelers Companies from $395.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, TD Cowen lowered shares of Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price target on the stock. in a research note on Monday, July 13th. Four research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $355.47.

Travelers Companies Price Performance

TRV stock opened at $360.39 on Wednesday. The business's 50-day moving average is $370.00 and its two-hundred day moving average is $333.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $75.17 billion, a P/E ratio of 9.65, a P/E/G ratio of 2.99 and a beta of 0.43. Travelers Companies has a 1 year low of $252.26 and a 1 year high of $398.70.

Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $6.51 earnings per share. The business's quarterly revenue was up .3% compared to the same quarter last year. Analysts anticipate that Travelers Companies will post 33.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Diane Kurtzman sold 4,164 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the transaction, the executive vice president directly owned 5,298 shares in the company, valued at approximately $2,048,789.58. This trade represents a 44.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Klein sold 6,000 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,667 shares of company stock valued at $21,830,989 in the last 90 days. Company insiders own 1.39% of the company's stock.

Institutional Trading of Travelers Companies

Hedge funds have recently added to or reduced their stakes in the stock. Berman McAleer LLC increased its stake in Travelers Companies by 3.5% in the second quarter. Berman McAleer LLC now owns 894 shares of the insurance provider's stock valued at $295,000 after purchasing an additional 30 shares in the last quarter. Willner & Heller LLC boosted its position in shares of Travelers Companies by 2.7% during the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock worth $398,000 after purchasing an additional 32 shares in the last quarter. Spinnaker Trust grew its holdings in shares of Travelers Companies by 1.7% in the 1st quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock valued at $565,000 after buying an additional 33 shares during the period. Avalon Trust Co increased its position in shares of Travelers Companies by 0.4% in the 1st quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock valued at $2,562,000 after buying an additional 35 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its stake in Travelers Companies by 2.1% during the 1st quarter. Wesbanco Bank Inc. now owns 1,780 shares of the insurance provider's stock worth $519,000 after buying an additional 36 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.