Travelers Companies (NYSE:TRV) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Travelers Companies (NYSE:TRV) from a hold rating to a buy rating in a research report released on Thursday morning.

Other analysts have also recently issued research reports about the stock. Barclays cut their price objective on shares of Travelers Companies from $295.00 to $278.00 and set an “overweight” rating on the stock in a report on Monday. Janney Montgomery Scott downgraded shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 price objective for the company. in a research note on Thursday, November 21st. Wells Fargo & Company reiterated an “underweight” rating and set a $217.00 target price (down previously from $256.00) on shares of Travelers Companies in a research report on Wednesday, December 11th. Jefferies Financial Group upped their target price on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler reduced their price objective on Travelers Companies from $280.00 to $259.00 and set a “neutral” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $255.10.

Travelers Companies Stock Up 0.5 %

Shares of Travelers Companies stock opened at $242.89 on Thursday. Travelers Companies has a 52-week low of $189.87 and a 52-week high of $269.55. The company has a 50 day moving average of $250.99 and a 200 day moving average of $234.44. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $55.14 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.17 and a beta of 0.65.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the firm earned $1.95 earnings per share. Travelers Companies’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Travelers Companies will post 18.84 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 21.54%.

Insider Activity

In related news, Vice Chairman William H. Heyman sold 3,000 shares of Travelers Companies stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total transaction of $781,650.00. Following the sale, the insider now owns 250,384 shares of the company’s stock, valued at $65,237,551.20. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Diane Kurtzman sold 3,941 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.45, for a total value of $1,026,433.45. Following the completion of the transaction, the executive vice president now owns 1,715 shares in the company, valued at approximately $446,671.75. This trade represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,149 shares of company stock valued at $20,295,856 in the last three months. Corporate insiders own 1.33% of the company’s stock.

Institutional Trading of Travelers Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Travelers Companies by 12.6% in the 3rd quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after purchasing an additional 1,568,909 shares during the last quarter. International Assets Investment Management LLC grew its stake in Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after buying an additional 518,075 shares during the last quarter. Bank of Montreal Can lifted its position in Travelers Companies by 66.9% in the 3rd quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock valued at $166,645,000 after purchasing an additional 282,884 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Travelers Companies in the 3rd quarter valued at approximately $54,988,000. Finally, Janus Henderson Group PLC raised its stake in shares of Travelers Companies by 216.3% during the third quarter. Janus Henderson Group PLC now owns 339,901 shares of the insurance provider’s stock valued at $79,582,000 after purchasing an additional 232,428 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Company Profile

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.