Citigroup initiated coverage on shares of Travelers Companies (NYSE:TRV - Free Report) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $291.00 price objective on the insurance provider's stock.
TRV has been the topic of several other reports. Barclays lowered shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $280.00 to $274.00 in a research report on Monday, July 7th. UBS Group upped their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Morgan Stanley set a $269.00 price objective on shares of Travelers Companies and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company increased their price objective on shares of Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Evercore ISI increased their target price on shares of Travelers Companies from $288.00 to $296.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $284.56.
Check Out Our Latest Report on TRV
Travelers Companies Stock Performance
Shares of Travelers Companies stock traded down $3.02 during trading on Wednesday, reaching $265.57. The company's stock had a trading volume of 1,295,665 shares, compared to its average volume of 1,253,062. The company has a 50-day moving average price of $262.58 and a two-hundred day moving average price of $259.17. The firm has a market cap of $59.79 billion, a PE ratio of 11.75, a P/E/G ratio of 3.08 and a beta of 0.51. Travelers Companies has a fifty-two week low of $215.39 and a fifty-two week high of $277.83. 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 quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The firm had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the firm posted $2.51 EPS. Travelers Companies's quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Travelers Companies will post 17.02 EPS for the current year.
Travelers Companies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 10th. Travelers Companies's dividend payout ratio is 19.46%.
Insider Activity at Travelers Companies
In related news, CFO Daniel S. Frey sold 20,286 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the transaction, the chief financial officer directly owned 26,932 shares in the company, valued at $7,365,363.36. This trade represents a 42.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey P. Klenk sold 15,180 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $272.87, for a total value of $4,142,166.60. Following the completion of the sale, the executive vice president owned 6,075 shares in the company, valued at $1,657,685.25. The trade was a 71.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,374 shares of company stock worth $47,929,912. 1.46% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Travelers Companies
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC increased its holdings in shares of Travelers Companies by 700.0% during the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 84 shares during the period. Osterweis Capital Management Inc. grew its holdings in Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after acquiring an additional 91 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in Travelers Companies in the 1st quarter worth about $26,000. Missouri Trust & Investment Co increased its stake in Travelers Companies by 122.2% in the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider's stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Finally, Quaker Wealth Management LLC increased its stake in Travelers Companies by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider's stock worth $28,000 after purchasing an additional 208 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.
About Travelers Companies
(
Get Free Report)
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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