Travelers Companies (NYSE:TRV) Given New $341.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo lowered Travelers Companies’ price target to $341 from $356 while maintaining an “equal weight” rating, implying approximately 8.19% downside from the reported share price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $357.26, despite several firms issuing higher targets or more bullish recommendations.
• Travelers reported strong quarterly results, earning $10.04 per share versus the $5.41 estimate and generating $12.15 billion in revenue; shares traded at $371.42, while insiders have recently sold company stock.

Travelers Companies (NYSE:TRV - Get Free Report) had its target price lowered by analysts at Wells Fargo & Company from $356.00 to $341.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price target would indicate a potential downside of 8.19% from the stock's current price.

A number of other research firms have also recently weighed in on TRV. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $356.00 price target (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price objective on Travelers Companies from $348.00 to $352.00 and gave the company a "neutral" rating in a report on Friday. Raymond James Financial set a $430.00 price objective on Travelers Companies in a research report on Monday, July 20th. Zacks Research raised Travelers Companies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Finally, Truist Financial upped 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. Four research 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's stock. According to data from MarketBeat.com, Travelers Companies currently has a consensus rating of "Hold" and an average price target of $357.26.

Travelers Companies Price Performance

Shares of Travelers Companies stock traded up $2.67 during trading hours on Monday, reaching $371.42. The stock had a trading volume of 161,088 shares, compared to its average volume of 1,636,579. The stock's 50 day moving average is $369.18 and its 200 day moving average is $334.70. The firm has a market capitalization of $77.47 billion, a PE ratio of 9.96, a PEG ratio of 3.02 and a beta of 0.43. Travelers Companies has a twelve month low of $252.26 and a twelve month high of $398.70. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business 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 company posted $6.51 EPS. The company's revenue for the quarter was up .3% on a year-over-year basis. Equities analysts expect that Travelers Companies will post 34.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Travelers Companies

In related news, EVP Daniel Yin sold 7,153 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the transaction, the executive vice president owned 68,834 shares in the company, valued at $26,638,758. This represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Klein sold 6,000 shares of the firm's stock in a transaction dated 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 directly owned 45,125 shares in the company, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 58,667 shares of company stock valued at $21,830,989. Corporate insiders own 1.39% of the company's stock.

Institutional Investors Weigh In On Travelers Companies

Large investors have recently bought and sold shares of the company. Wealth Enhancement Trust Services Inc. raised its position in shares of Travelers Companies by 286.8% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,899 shares of the insurance provider's stock valued at $677,000 after buying an additional 1,408 shares during the last quarter. Bank of New Hampshire boosted its position in Travelers Companies by 1.5% during the third quarter. Bank of New Hampshire now owns 5,871 shares of the insurance provider's stock worth $2,093,000 after acquiring an additional 88 shares during the last quarter. QRG Capital Management Inc. boosted its position in Travelers Companies by 39.4% during the second quarter. QRG Capital Management Inc. now owns 89,892 shares of the insurance provider's stock worth $29,675,000 after acquiring an additional 25,395 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Travelers Companies by 14.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,709 shares of the insurance provider's stock worth $2,545,000 after acquiring an additional 977 shares during the last quarter. Finally, Bouchey Financial Group Ltd. purchased a new stake in Travelers Companies during the 2nd quarter valued at about $234,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Company Profile

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.

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