Citigroup Increases Travelers Companies (NYSE:TRV) Price Target to $385.00

Key Points

• Citigroup raised its price target on Travelers Companies to $385 from $315, while keeping a neutral rating. The new target implies about 4.94% upside from the current share price.
• Travelers recently reported better-than-expected quarterly results, with EPS of $10.04 versus the $5.41 estimate and revenue of $12.15 billion above forecasts. Analysts now expect the company to earn 28.39 EPS for the full year.
• The stock was trading around $366.86, near its 52-week high of $371.94, after dipping 0.6% on the day. Analyst views remain mixed overall, with a Hold consensus and an average price target of $341.

Travelers Companies (NYSE:TRV - Get Free Report) had its price objective upped by investment analysts at Citigroup from $315.00 to $385.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the insurance provider's stock. Citigroup's price objective would indicate a potential upside of 4.94% from the company's current price.

TRV has been the subject of several other reports. Evercore set a $329.00 price target on shares of Travelers Companies and gave the company an "in-line" rating in a report on Friday, July 10th. Cantor Fitzgerald raised their price target on Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings reissued a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. JPMorgan Chase & Co. raised shares of Travelers Companies from an "underweight" rating to a "neutral" rating and upped their price target for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Finally, Truist Financial raised their price objective on Travelers Companies from $395.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $341.00.

Travelers Companies Stock Down 0.6%

Shares of Travelers Companies stock traded down $2.12 on Monday, hitting $366.86. 1,176,863 shares of the company's stock traded hands, compared to its average volume of 1,659,817. The stock has a market cap of $78.01 billion, a P/E ratio of 9.83, a PEG ratio of 3.28 and a beta of 0.46. The firm's 50-day moving average is $314.35 and its 200 day moving average is $301.57. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. Travelers Companies has a 52-week low of $252.26 and a 52-week high of $371.94.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share 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 company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the business earned $6.51 EPS. The firm's revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Travelers Companies will post 28.39 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the transaction, the insider owned 48,737 shares of the company's stock, valued at $15,049,010.86. This trade represents a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,882,706.25. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 18,292 shares of company stock worth $5,639,800. Corporate insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. LifeSteps Financial Inc. bought a new stake in Travelers Companies in the 2nd quarter valued at $26,000. HHM Wealth Advisors LLC lifted its holdings in shares of Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 51 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Travelers Companies during the fourth quarter worth about $26,000. Whipplewood Advisors LLC bought a new stake in Travelers Companies during the 1st quarter worth approximately $26,000. Finally, Osterweis Capital Management Inc. increased its stake in shares of Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after buying an additional 91 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Company Profile

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

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