Travelers Companies (NYSE:TRV) Price Target Raised to $352.00

Key Points

• JPMorgan raised Travelers’ price target from $348 to $352 while maintaining a “neutral” rating, implying approximately 4.5% downside from the reported share price of $368.69.
• Analyst sentiment remains mixed, with MarketBeat reporting an overall “Hold” rating and an average price target of $356.89; targets from other firms range from $318 to $430.
• Travelers significantly beat quarterly earnings expectations, reporting $10.04 EPS versus the $5.41 consensus and revenue of $12.15 billion versus $11.26 billion expected. Insiders have nevertheless sold 58,667 shares worth about $21.8 million over the past 90 days.

Travelers Companies (NYSE:TRV - Get Free Report) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $348.00 to $352.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the insurance provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 4.53% from the company's current price.

TRV has been the topic of several other reports. Mizuho lowered their price objective on shares of Travelers Companies from $348.00 to $345.00 and set a "neutral" rating on the stock in a research report on Wednesday. Raymond James Financial set a $430.00 target price on Travelers Companies in a research report on Monday, July 20th. The Goldman Sachs Group downgraded Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price target on the stock. in a report on Monday, July 20th. Barclays upped their price target on Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Finally, UBS Group raised their price objective on Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Four research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Travelers Companies presently has an average rating of "Hold" and an average price target of $356.89.

Travelers Companies Price Performance

TRV stock traded down $1.58 during trading on Friday, hitting $368.69. The company had a trading volume of 368,016 shares, compared to its average volume of 1,642,012. The firm has a market capitalization of $76.90 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 2.98 and a beta of 0.43. The business has a 50 day moving average of $369.30 and a 200 day moving average of $334.18. Travelers Companies has a fifty-two week low of $252.26 and a fifty-two week 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 issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm's quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $6.51 EPS. As a group, research analysts predict that Travelers Companies will post 33.89 earnings per share for the current year.

Insider Buying and Selling at Travelers Companies

In related news, EVP Daniel Yin sold 7,153 shares of Travelers Companies stock in a transaction on Friday, July 24th. The shares were 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 owned 68,834 shares of the company's stock, valued at approximately $26,638,758. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Maria Olivo sold 6,000 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $369.86, for a total transaction of $2,219,160.00. Following the completion of the sale, the executive vice president owned 118,742 shares of the company's stock, valued at $43,917,916.12. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,667 shares of company stock worth $21,830,989 in the last ninety days. Company insiders own 1.39% of the company's stock.

Institutional Trading of Travelers Companies

Several large investors have recently made changes to their positions in the stock. Wealth Enhancement Trust Services Inc. boosted its holdings in shares of Travelers Companies by 286.8% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 1,899 shares of the insurance provider's stock worth $677,000 after buying an additional 1,408 shares during the period. Bank of New Hampshire raised its holdings in 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. lifted its position in Travelers Companies by 39.4% during the 2nd 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. lifted its position in Travelers Companies by 14.5% during the 2nd 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. bought a new stake in Travelers Companies during the second quarter valued at about $234,000. 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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