Raymond James Financial Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock

Key Points

• Raymond James Financial raised its price target on Travelers Companies (NYSE:TRV) from $350 to $400 and kept a strong-buy rating, implying about 18.5% upside from the prior close.
• Travelers recently posted strong quarterly results, with EPS of $7.71 beating estimates by $0.91 and revenue of $11.92 billion topping expectations.
• Despite mixed analyst sentiment overall, the stock has seen notable interest from institutions, with 82.45% of shares owned by hedge funds and other institutional investors, while insiders have also been selling shares recently.

Travelers Companies (NYSE:TRV - Get Free Report) had its price objective boosted by investment analysts at Raymond James Financial from $350.00 to $400.00 in a report issued on Monday,Benzinga reports. The firm currently has a "strong-buy" rating on the insurance provider's stock. Raymond James Financial's target price indicates a potential upside of 18.53% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on Travelers Companies from $310.00 to $330.00 and gave the company an "equal weight" rating in a research report on Monday. Weiss Ratings reissued a "buy (a-)" rating on shares of Travelers Companies in a research note on Friday, May 8th. Bank of America lowered their price target on shares of Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research report on Tuesday, April 14th. Piper Sandler raised their price objective on shares of Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Finally, Barclays lowered Travelers Companies from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $331.00 to $295.00 in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $318.94.

Travelers Companies Stock Performance

Shares of Travelers Companies stock traded down $4.85 during trading on Monday, reaching $337.46. The company's stock had a trading volume of 515,282 shares, compared to its average volume of 1,636,375. The business's 50-day moving average price is $306.77 and its 200-day moving average price is $298.14. The firm has a market cap of $71.76 billion, a PE ratio of 10.04, a P/E/G ratio of 3.09 and a beta of 0.46. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. Travelers Companies has a 52 week low of $249.19 and a 52 week high of $343.45.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping the consensus estimate of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the company earned $1.91 EPS. The firm's revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Travelers Companies will post 28 earnings per share for the current year.

Insider Activity

In related news, EVP Jeffrey P. Klenk sold 6,414 shares of the business's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the sale, the executive vice president directly owned 6,075 shares in the company, valued at $1,853,239.50. The trade was a 51.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the transaction, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,573 shares of company stock valued at $11,504,146 over the last three months. 1.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travelers Companies

Hedge funds have recently bought and sold shares of the business. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Travelers Companies during the fourth quarter valued at $24,167,000. Rit Capital Partners PLC acquired a new stake in Travelers Companies in the 4th quarter valued at approximately $39,450,000. Robeco Institutional Asset Management B.V. lifted its position in Travelers Companies by 17.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 901,938 shares of the insurance provider's stock worth $261,616,000 after buying an additional 133,152 shares in the last quarter. AIA Group Ltd bought a new position in shares of Travelers Companies in the third quarter valued at $1,773,000. Finally, Danske Bank A S acquired a new stake in Travelers Companies during the third quarter worth approximately $52,339,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

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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