Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock

Key Points

• Morgan Stanley raised its price target for Travelers Companies from $269.00 to $285.00, maintaining an "equal weight" rating, which indicates a slight potential downside from the stock's previous close.
• The stock is performing well, trading at $286.32, with a market cap of $64.46 billion and a P/E ratio of 12.67.
• Travelers Companies recently reported impressive quarterly earnings, with $6.51 earnings per share, surpassing analysts' expectations significantly.

Travelers Companies (NYSE:TRV - Get Free Report) had its price objective lifted by stock analysts at Morgan Stanley from $269.00 to $285.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's price objective suggests a potential downside of 0.46% from the stock's previous close.

Several other analysts have also issued reports on TRV. Evercore ISI restated an "outperform" rating on shares of Travelers Companies in a research report on Wednesday, October 1st. Barclays cut shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $280.00 to $274.00 in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Citigroup began coverage on Travelers Companies in a research report on Wednesday, August 13th. They set a "neutral" rating and a $291.00 target price on the stock. Finally, Wolfe Research began coverage on Travelers Companies in a research report on Monday, September 15th. They issued a "peer perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $285.44.

Travelers Companies Stock Performance

TRV stock traded up $3.59 during trading on Tuesday, reaching $286.32. The stock had a trading volume of 181,755 shares, compared to its average volume of 1,289,302. The firm has a market cap of $64.46 billion, a PE ratio of 12.67, a PEG ratio of 3.27 and a beta of 0.51. 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 stock's 50 day moving average is $272.16 and its two-hundred day moving average is $265.71. Travelers Companies has a 52 week low of $226.11 and a 52 week high of $286.89.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The business had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the company posted $2.51 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Travelers Companies will post 17.02 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Gregory C. Toczydlowski sold 11,505 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the completion of the transaction, the executive vice president owned 18,416 shares in the company, valued at $4,900,865.92. This trade represents a 38.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travelers Companies

Several large investors have recently bought and sold shares of TRV. Cornerstone Planning Group LLC lifted its position in 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 last quarter. Osterweis Capital Management Inc. increased its holdings in shares of Travelers Companies by 1,820.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after buying an additional 91 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Travelers Companies during the 1st quarter valued at about $26,000. Missouri Trust & Investment Co lifted its holdings in shares of Travelers Companies by 122.2% in the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Delos Wealth Advisors LLC purchased a new position in Travelers Companies in the second quarter worth about $27,000. Institutional investors own 82.45% of the company's stock.

About Travelers Companies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.