Travelers Companies (NYSE:TRV) Downgraded to Hold Rating by Zacks Research

Travelers Companies (NYSE:TRV) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

TRV has been the topic of several other reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Travelers Companies in a research note on Friday, October 17th. Barclays set a $313.00 target price on shares of Travelers Companies in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Travelers Companies in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company reissued a “positive” rating on shares of Travelers Companies in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Travelers Companies from $289.00 to $297.00 and gave the company an “underweight” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $294.25.

Travelers Companies Price Performance

TRV stock opened at $292.44 on Monday. 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 has a 1 year low of $230.23 and a 1 year high of $296.85. The firm has a 50-day moving average of $281.26 and a 200 day moving average of $272.92. The company has a market cap of $65.23 billion, a P/E ratio of 11.50, a PEG ratio of 2.87 and a beta of 0.53.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, beating the consensus estimate of $6.01 by $2.13. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The business had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $11.15 billion. During the same period in the previous year, the firm posted $5.24 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Travelers Companies will post 17.02 EPS for the current year.

Insider Activity

In other news, EVP Michael Frederick Klein sold 8,572 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $270.73, for a total value of $2,320,697.56. Following the transaction, the executive vice president owned 33,638 shares in the company, valued at approximately $9,106,815.74. This represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel S. Frey sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $278.25, for a total transaction of $6,956,250.00. Following the sale, the chief financial officer directly owned 26,932 shares of the company’s stock, valued at $7,493,829. This trade represents a 48.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 46,295 shares of company stock worth $13,011,918. Corporate insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TRV. Triumph Capital Management purchased a new stake in shares of Travelers Companies during the third quarter valued at $72,000. AIA Group Ltd bought a new position in Travelers Companies during the 3rd quarter valued at about $1,773,000. Keel Point LLC boosted its holdings in shares of Travelers Companies by 3.8% during the 3rd quarter. Keel Point LLC now owns 1,236 shares of the insurance provider’s stock valued at $345,000 after acquiring an additional 45 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in shares of Travelers Companies during the 3rd quarter valued at about $217,000. Finally, Allworth Financial LP grew its stake in shares of Travelers Companies by 11.6% in the third quarter. Allworth Financial LP now owns 9,446 shares of the insurance provider’s stock worth $2,638,000 after acquiring an additional 984 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 (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.