TD Cowen Cuts Travelers Companies (NYSE:TRV) Price Target to $252.00

Travelers Companies (NYSE:TRV) had its price objective decreased by TD Cowen from $261.00 to $252.00 in a research report report published on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the insurance provider’s stock.

Several other brokerages also recently weighed in on TRV. Roth Mkm reaffirmed a buy rating and set a $240.00 price target on shares of Travelers Companies in a report on Thursday, April 18th. Citigroup increased their price target on Travelers Companies from $215.00 to $226.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. The Goldman Sachs Group increased their price target on Travelers Companies from $186.00 to $212.00 and gave the stock a sell rating in a report on Friday, April 12th. Piper Sandler reaffirmed a neutral rating and set a $213.00 price target on shares of Travelers Companies in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods decreased their price target on Travelers Companies from $241.00 to $231.00 and set a market perform rating for the company in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $223.47.

Travelers Companies Stock Performance

Shares of TRV opened at $213.90 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.32. The firm has a market cap of $48.98 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.11 and a beta of 0.58. The company’s 50 day simple moving average is $221.58 and its 200-day simple moving average is $198.06. Travelers Companies has a 12-month low of $157.33 and a 12-month high of $232.75.

Travelers Companies (NYSE:TRV) last announced its earnings results on Wednesday, April 17th. The insurance provider reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.62 billion. Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business posted $4.11 earnings per share. As a group, equities analysts predict that Travelers Companies will post 17.78 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, June 7th. This is an increase from Travelers Companies’s previous quarterly dividend of $1.00. Travelers Companies’s payout ratio is 29.72%.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $213.96, for a total transaction of $2,139,600.00. Following the completion of the transaction, the executive vice president now owns 22,798 shares of the company’s stock, valued at approximately $4,877,860.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Daniel S. Frey sold 38,000 shares of Travelers Companies stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $212.55, for a total transaction of $8,076,900.00. Following the completion of the sale, the chief financial officer now owns 14,810 shares in the company, valued at approximately $3,147,865.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $213.96, for a total value of $2,139,600.00. Following the sale, the executive vice president now owns 22,798 shares of the company’s stock, valued at approximately $4,877,860.08. The disclosure for this sale can be found here. Insiders sold 75,734 shares of company stock valued at $16,143,904 in the last 90 days. 1.33% of the stock is currently owned by insiders.

Institutional Trading of Travelers Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Travelers Companies in the 4th quarter valued at about $282,593,000. Clearbridge Investments LLC grew its holdings in Travelers Companies by 15.8% in the 3rd quarter. Clearbridge Investments LLC now owns 4,575,759 shares of the insurance provider’s stock valued at $747,267,000 after buying an additional 623,974 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Travelers Companies by 1,826.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 512,714 shares of the insurance provider’s stock valued at $83,731,000 after buying an additional 486,098 shares during the period. International Assets Investment Management LLC grew its holdings in Travelers Companies by 19,918.1% in the 4th quarter. International Assets Investment Management LLC now owns 475,830 shares of the insurance provider’s stock valued at $90,641,000 after buying an additional 473,453 shares during the period. Finally, Boston Partners grew its holdings in Travelers Companies by 42.5% in the 4th quarter. Boston Partners now owns 1,192,008 shares of the insurance provider’s stock valued at $227,175,000 after buying an additional 355,489 shares during the period. Hedge funds and other 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.