Travelers Companies (NYSE:TRV) Upgraded to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Travelers Companies (NYSE:TRV) from an underweight rating to an equal weight rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $247.00 price target on the insurance provider’s stock, up from their previous price target of $225.00.

TRV has been the topic of a number of other reports. Piper Sandler upgraded shares of Travelers Companies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $259.00 to $310.00 in a research report on Friday, January 24th. BMO Capital Markets lifted their price target on shares of Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Barclays raised their price objective on Travelers Companies from $278.00 to $287.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Hsbc Global Res downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $268.00 price objective (down previously from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $261.89.

Travelers Companies Trading Down 0.4 %

Travelers Companies stock traded down $0.96 during trading hours on Wednesday, reaching $247.14. 735,038 shares of the company’s stock traded hands, compared to its average volume of 1,298,194. The firm has a market capitalization of $56.03 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 4.65 and a beta of 0.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33. Travelers Companies has a fifty-two week low of $200.21 and a fifty-two week high of $269.56. The firm’s 50 day moving average is $251.57 and its 200-day moving average is $248.74.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, beating the consensus estimate of $6.50 by $2.65. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.01 EPS. On average, analysts predict that Travelers Companies will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Monday, March 10th. Travelers Companies’s dividend payout ratio (DPR) is 19.56%.

Hedge Funds Weigh In On Travelers Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zacks Investment Management acquired a new position in shares of Travelers Companies during the 3rd quarter worth about $221,000. MML Investors Services LLC increased its position in Travelers Companies by 1.2% during the third quarter. MML Investors Services LLC now owns 20,565 shares of the insurance provider’s stock worth $4,815,000 after buying an additional 237 shares during the last quarter. Continuum Advisory LLC raised its stake in Travelers Companies by 1,122.2% in the third quarter. Continuum Advisory LLC now owns 330 shares of the insurance provider’s stock valued at $85,000 after buying an additional 303 shares during the period. Geode Capital Management LLC lifted its position in shares of Travelers Companies by 2.3% in the third quarter. Geode Capital Management LLC now owns 5,076,220 shares of the insurance provider’s stock valued at $1,187,865,000 after buying an additional 114,714 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Travelers Companies by 14.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,032 shares of the insurance provider’s stock worth $1,191,000 after acquiring an additional 630 shares during the period. 82.45% of the stock is owned by institutional investors.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.