Travelers Companies (NYSE:TRV) Sets New 12-Month High After Analyst Upgrade

Key Points

• Travelers Companies hit a new 52-week high after HSBC raised its price target to $351 from $321, even though the firm kept a hold rating. The stock traded as high as $342.31 on heavy volume.
• Several analysts have recently adjusted their views, with JPMorgan and Piper Sandler turning more positive while Barclays cut its target and rating. Overall, the stock’s consensus rating remains Hold with an average price target of $311.69.
• The insurer posted strong quarterly results, including EPS of $7.71 versus the $6.80 estimate, and recently increased its quarterly dividend to $1.25 from $1.10. The higher payout implies a 1.5% annual yield.

The Travelers Companies, Inc. (NYSE:TRV - Get Free Report) reached a new 52-week high during trading on Monday after HSBC raised their price target on the stock from $321.00 to $351.00. HSBC currently has a hold rating on the stock. Travelers Companies traded as high as $342.31 and last traded at $340.8320, with a volume of 1433422 shares trading hands. The stock had previously closed at $342.31.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $316.00 to $322.00 in a research report on Tuesday, May 26th. Brean Capital began coverage on Travelers Companies in a research note on Thursday, March 12th. They issued a "neutral" rating on the stock. Barclays lowered Travelers Companies from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $331.00 to $295.00 in a report on Friday, June 12th. Piper Sandler upped their price target on Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $311.69.

Insider Buying and Selling

In other news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 45,125 shares in the company, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Avrohom J. Kess sold 6,735 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the transaction, the insider directly owned 48,737 shares of the company's stock, valued at $15,049,010.86. The trade was a 12.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,573 shares of company stock valued at $11,504,146 in the last 90 days. 1.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travelers Companies

Hedge funds have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC increased its stake in shares of Travelers Companies by 145.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after purchasing an additional 51 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Travelers Companies in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new stake in Travelers Companies in the 1st quarter valued at approximately $26,000. Osterweis Capital Management Inc. grew its holdings in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after buying an additional 91 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Travelers Companies during the 4th quarter valued at $28,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Stock Down 0.5%

The company has a market cap of $72.39 billion, a PE ratio of 10.14, a P/E/G ratio of 3.09 and a beta of 0.46. The firm has a 50-day simple moving average of $306.77 and a two-hundred day simple moving average of $298.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.91. The business had revenue of $11.92 billion for 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 business's revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 earnings per share. Research analysts anticipate that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th were issued a $1.25 dividend. This is a boost from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date was Wednesday, June 10th. This represents a $5.00 annualized dividend and a yield of 1.5%. Travelers Companies's payout ratio is presently 14.88%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.