Travelers Companies (NYSE:TRV) Given New $345.00 Price Target at Mizuho

Key Points

• Mizuho lowered Travelers’ price target to $345 from $348 and maintained a “neutral” rating, implying 4.83% downside from the prior close. Analysts collectively rate the stock “Hold,” with an average target of $355.32.
• Travelers shares rose 0.5% to $362.53, while the insurer reported quarterly EPS of $10.04—well above the $5.41 consensus estimate—and revenue of $12.15 billion.
• Insiders have been selling shares: executives sold 58,667 shares worth approximately $21.83 million over the past three months, while institutional investors own 82.45% of the company.

Travelers Companies (NYSE:TRV - Get Free Report) had its target price lowered by analysts at Mizuho from $348.00 to $345.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the insurance provider's stock. Mizuho's price objective would suggest a potential downside of 4.83% from the stock's previous close.

Several other brokerages have also recently issued reports on TRV. UBS Group lifted their price objective on Travelers Companies from $314.00 to $350.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Roth Capital raised their target price on shares of Travelers Companies from $345.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Zacks Research upgraded shares of Travelers Companies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. BMO Capital Markets downgraded shares of Travelers Companies from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $314.00 to $379.00 in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group cut shares of Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price objective for the company. in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $355.32.

Travelers Companies Stock Up 0.5%

TRV traded up $1.89 during trading hours on Wednesday, hitting $362.53. 437,185 shares of the company's stock were exchanged, compared to its average volume of 1,648,457. The firm has a market cap of $75.61 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 2.99 and a beta of 0.43. Travelers Companies has a 12-month low of $252.26 and a 12-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. The firm has a 50 day moving average of $370.00 and a 200 day moving average of $333.22.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, beating the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to analysts' expectations of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $6.51 EPS. Analysts predict that Travelers Companies will post 33.86 EPS for the current fiscal year.

Insider Buying and Selling at Travelers Companies

In other news, EVP Daniel Yin sold 7,153 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the sale, the executive vice president directly owned 68,834 shares of the company's stock, valued at approximately $26,638,758. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Rowland sold 5,000 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the sale, the executive vice president owned 10,479 shares of the company's stock, valued at approximately $3,894,939.51. This represents a 32.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 58,667 shares of company stock valued at $21,830,989. 1.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Travelers Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in TRV. Bank of New Hampshire lifted its stake in shares of Travelers Companies by 1.5% in the 3rd 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 period. QRG Capital Management Inc. raised its holdings 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 purchasing an additional 25,395 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings 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 purchasing an additional 977 shares in the last quarter. Bouchey Financial Group Ltd. acquired a new stake in Travelers Companies in the second quarter valued at about $234,000. Finally, Sequoia Financial Advisors LLC lifted its position in Travelers Companies by 12.8% in the second quarter. Sequoia Financial Advisors LLC now owns 33,397 shares of the insurance provider's stock valued at $11,025,000 after purchasing an additional 3,782 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

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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