Travelers Companies (NYSE:TRV) Raised to "Neutral" at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. upgraded Travelers Companies from underweight to neutral and set a $322 price target, implying about 5% upside from the current share price.
• Travelers recently reported strong quarterly results, with EPS of $7.71 beating estimates and revenue of $11.92 billion topping forecasts, though revenue was still down 1.7% year over year.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating, while insiders have sold shares recently and institutional ownership remains high at 82.45%.

Travelers Companies (NYSE:TRV - Get Free Report) was upgraded by JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Tuesday. The firm currently has a $322.00 target price on the insurance provider's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 5.00% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Roth Mkm restated a "buy" rating on shares of Travelers Companies in a report on Monday, April 20th. Citigroup restated a "neutral" rating on shares of Travelers Companies in a report on Tuesday, January 27th. BMO Capital Markets boosted their price objective on Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. Finally, Piper Sandler restated an "overweight" rating on shares of Travelers Companies in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $310.27.

Travelers Companies Trading Up 0.1%

NYSE TRV opened at $306.67 on Tuesday. The company has a market cap of $65.21 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 2.76 and a beta of 0.50. Travelers Companies has a 52 week low of $249.19 and a 52 week high of $313.12. The business has a 50 day moving average price of $299.54 and a 200-day moving average price of $293.26. 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 (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.91 earnings per share. As a group, equities analysts expect that Travelers Companies will post 28.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 6,414 shares of the business's stock in a transaction on Monday, April 20th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diane Kurtzman sold 2,867 shares of the business's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the completion of the sale, the executive vice president owned 5,298 shares in the company, valued at approximately $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 27,573 shares of company stock valued at $8,427,646. 1.39% of the stock is currently owned by insiders.

Institutional Trading of Travelers Companies

Several hedge funds have recently made changes to their positions in TRV. Arbejdsmarkedets Tillaegspension purchased a new stake in Travelers Companies during the 4th quarter worth about $24,167,000. Varma Mutual Pension Insurance Co lifted its holdings in Travelers Companies by 21.7% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 48,247 shares of the insurance provider's stock worth $13,472,000 after purchasing an additional 8,600 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in Travelers Companies during the 3rd quarter worth about $7,955,000. National Pension Service lifted its holdings in Travelers Companies by 1.8% during the 3rd quarter. National Pension Service now owns 746,883 shares of the insurance provider's stock worth $208,545,000 after purchasing an additional 13,120 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Travelers Companies by 24.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 34,871 shares of the insurance provider's stock worth $9,737,000 after purchasing an additional 6,954 shares in the last quarter. 82.45% of the stock is currently owned by 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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