Travelers Companies (NYSE:TRV) Price Target Raised to $377.00

Key Points

• Wells Fargo raised Travelers Companies’ price target to $377 from $341 while maintaining an “equal weight” rating, implying 2.58% downside from the prior close.
• Travelers reported strong quarterly results, with EPS of $9.18 versus the $7.39 consensus and revenue of $12.41 billion versus estimates of $11.36 billion.
• Despite the earnings beat, analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and an average price target of $359.68, below its reported trading price of $386.98.

Travelers Companies (NYSE:TRV - Get Free Report) had its target price boosted by equities researchers at Wells Fargo & Company from $341.00 to $377.00 in a research note issued on Monday, Benzinga reports. The firm currently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price target points to a potential downside of 2.58% from the stock's previous close.

TRV has been the topic of several other reports. Zacks Research cut shares of Travelers Companies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 9th. Mizuho reduced their price objective on Travelers Companies from $348.00 to $345.00 and set a "neutral" rating for the company in a report on Wednesday, October 7th. The Goldman Sachs Group downgraded Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 target price on the stock. in a research report on Monday, July 20th. HSBC lifted their price target on Travelers Companies from $321.00 to $351.00 and gave the stock a "hold" rating in a report on Monday, July 6th. Finally, TD Cowen downgraded Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price target for the company. in a research note on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $359.68.

Travelers Companies Stock Down 0.7%

Travelers Companies stock traded down $2.56 during mid-day trading on Monday, reaching $386.98. The company's stock had a trading volume of 631,973 shares, compared to its average volume of 1,639,258. The company has a market capitalization of $80.71 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. Travelers Companies has a 12 month low of $262.89 and a 12 month high of $398.70. The business's 50 day simple moving average is $368.98 and its 200 day simple moving average is $337.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings results on Friday, October 16th. The insurance provider reported $9.18 earnings per share for the quarter, topping the consensus estimate of $7.39 by $1.79. The firm had revenue of $12.41 billion for the quarter, compared to analyst estimates of $11.36 billion. Travelers Companies had a return on equity of 26.19% and a net margin of 17.03%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.14 EPS. As a group, research analysts anticipate that Travelers Companies will post 34.25 earnings per share for the current year.

Insider Activity

In other Travelers Companies news, EVP Diane Kurtzman sold 4,164 shares of the firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the transaction, the executive vice president directly owned 5,298 shares of the company's stock, valued at $2,048,789.58. This trade represents a 44.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Rowland sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares of the company's stock, valued at $3,894,939.51. The trade was a 32.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 58,667 shares of company stock valued at $21,830,989. Company insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TRV. HHM Wealth Advisors LLC boosted its position in Travelers Companies by 145.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after buying an additional 51 shares during the period. Whipplewood Advisors LLC bought a new stake in Travelers Companies during the 1st quarter worth approximately $26,000. LifeSteps Financial Inc. acquired a new position in Travelers Companies in the 2nd quarter valued at approximately $26,000. Kilter Group LLC acquired a new position in Travelers Companies in the 2nd quarter valued at approximately $26,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of Travelers Companies during the second quarter valued at $30,000. 82.45% of the stock is owned by institutional investors.

Travelers Companies Company Profile

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers' compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.

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