Travelers Companies (NYSE:TRV) Price Target Raised to $351.00 at HSBC

Key Points

• HSBC raised its price target on Travelers Companies to $351 from $321, while keeping a hold rating on the stock. The new target implies modest upside from the previous close.
• Other analysts remain mixed on TRV: Evercore is still bullish, Barclays downgraded the stock to underweight and cut its target, and the overall consensus rating remains Hold with an average price target of $311.69.
• Travelers reported strong quarterly earnings, beating EPS and revenue estimates, even as the stock traded slightly lower. The company also saw notable insider selling and remains heavily owned by institutional investors.

Travelers Companies (NYSE:TRV - Get Free Report) had its price target upped by stock analysts at HSBC from $321.00 to $351.00 in a research report issued on Monday, Marketbeat.com reports. The firm currently has a "hold" rating on the insurance provider's stock. HSBC's target price suggests a potential upside of 2.74% from the company's previous close.

A number of other research firms have also weighed in on TRV. Evercore reissued an "outperform" rating on shares of Travelers Companies in a report on Friday, April 17th. Barclays cut shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $331.00 to $295.00 in a research note on Friday, June 12th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. Seaport Research Partners set a $322.00 price target on Travelers Companies in a research report on Tuesday, May 26th. Finally, Brean Capital initiated coverage on Travelers Companies in a research note on Thursday, March 12th. They issued a "neutral" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Travelers Companies presently has an average rating of "Hold" and a consensus price target of $311.69.

Travelers Companies Trading Down 0.2%

NYSE TRV opened at $341.65 on Monday. The company has a market cap of $72.65 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.46. Travelers Companies has a twelve month low of $249.19 and a twelve month high of $342.31. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The business's fifty day moving average is $306.77 and its 200 day moving average is $298.14.

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

Insider Activity at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were 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 $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares of the company's stock, valued at $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 37,573 shares of company stock worth $11,504,146. Corporate insiders own 1.39% of the company's stock.

Institutional Trading of Travelers Companies

Several large investors have recently made changes to their positions in TRV. Brighton Jones LLC increased its holdings in shares of Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock valued at $789,000 after acquiring an additional 387 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Travelers Companies in the 4th quarter valued at $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies during the 2nd quarter valued at $382,000. CIBC Asset Management Inc increased its stake in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock valued at $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Travelers Companies by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock worth $28,254,000 after buying an additional 2,117 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

About Travelers Companies

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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