Truist Financial Issues Positive Forecast for Travelers Companies (NYSE:TRV) Stock Price

Key Points

• Truist Financial raised its price target on Travelers Companies to $425 from $395 and kept a buy rating, implying about 15.5% upside from the prior close.
• Other analysts were mixed: the current consensus rating is Hold, with an average price target of $337.32 even as several firms recently lifted their targets.
• Travelers also reported strong quarterly results, with EPS of $10.04 versus the $5.41 estimate and revenue of $12.15 billion above expectations, reinforcing positive sentiment around the stock.

Travelers Companies (NYSE:TRV - Get Free Report) had its price objective raised by investment analysts at Truist Financial from $395.00 to $425.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the insurance provider's stock. Truist Financial's price objective would suggest a potential upside of 15.54% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial set a $430.00 target price on shares of Travelers Companies in a report on Monday. Evercore set a $329.00 price target on shares of Travelers Companies and gave the stock an "in-line" rating in a research report on Friday, July 10th. BMO Capital Markets increased their price objective on shares of Travelers Companies from $297.00 to $314.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. HSBC lifted their target price on shares of Travelers Companies from $321.00 to $351.00 and gave the company a "hold" rating in a research note on Monday, July 6th. Finally, Piper Sandler upped their target price on shares of Travelers Companies to $340.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $337.32.

Travelers Companies Price Performance

NYSE TRV traded down $1.15 during trading hours on Monday, reaching $367.83. 385,882 shares of the stock traded hands, compared to its average volume of 1,653,361. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.35. The stock has a 50 day simple moving average of $314.35 and a two-hundred day simple moving average of $301.57. Travelers Companies has a 1 year low of $252.26 and a 1 year high of $371.94. The company has a market cap of $78.22 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 3.28 and a beta of 0.46.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $6.51 EPS. On average, analysts predict that Travelers Companies will post 28.39 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the completion of the sale, the insider directly owned 259,590 shares of the company's stock, valued at $80,639,037.60. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,292 shares of company stock worth $5,639,800 over the last quarter. Insiders own 1.39% of the company's stock.

Hedge Funds Weigh In On Travelers Companies

Hedge funds have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC grew its stake in shares of Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after acquiring an additional 51 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in Travelers Companies during the 1st quarter worth about $26,000. LifeSteps Financial Inc. acquired a new stake in Travelers Companies during the second quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in Travelers Companies in the fourth quarter valued at $26,000. Finally, Osterweis Capital Management Inc. increased its stake 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 valued at $26,000 after purchasing an additional 91 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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