Wells Fargo & Company Boosts Travelers Companies (NYSE:TRV) Price Target to $307.00

Travelers Companies (NYSE:TRV) had its price target upped by equities researchers at Wells Fargo & Company from $294.00 to $307.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 10.56% from the company’s current price.

Several other equities analysts also recently commented on the stock. Morgan Stanley boosted their price target on shares of Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Barclays lowered their target price on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. JPMorgan Chase & Co. upped their price target on Travelers Companies from $302.00 to $305.00 and gave the stock an “underweight” rating in a report on Wednesday, January 7th. Evercore ISI increased their price target on Travelers Companies from $309.00 to $317.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Finally, Zacks Research downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $299.19.

Travelers Companies Stock Down 1.0%

Shares of TRV traded down $2.81 during mid-day trading on Tuesday, hitting $277.68. 72,069 shares of the company’s stock were exchanged, compared to its average volume of 1,463,998. The company has a market cap of $61.94 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 2.69 and a beta of 0.52. Travelers Companies has a fifty-two week low of $230.43 and a fifty-two week high of $296.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The stock’s 50-day moving average is $286.93 and its 200-day moving average is $275.24.

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

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Frederick Klein sold 8,572 shares of the 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 directly owned 33,638 shares in the company, valued at $9,106,815.74. This represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Maria Olivo sold 8,920 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $295.73, for a total transaction of $2,637,911.60. Following the sale, the executive vice president directly owned 117,596 shares in the company, valued at approximately $34,776,665.08. The trade was a 7.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 46,295 shares of company stock valued at $13,011,918. 1.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travelers Companies

Large investors have recently bought and sold shares of the stock. Benin Management CORP grew its holdings in shares of Travelers Companies by 14.7% during the fourth quarter. Benin Management CORP now owns 8,380 shares of the insurance provider’s stock worth $2,431,000 after purchasing an additional 1,075 shares during the last quarter. PUREfi Wealth LLC boosted its position in shares of Travelers Companies by 9.1% in the 4th quarter. PUREfi Wealth LLC now owns 2,884 shares of the insurance provider’s stock valued at $837,000 after purchasing an additional 240 shares during the period. Czech National Bank grew its stake in Travelers Companies by 2.9% during the 4th quarter. Czech National Bank now owns 58,819 shares of the insurance provider’s stock worth $17,061,000 after buying an additional 1,639 shares during the last quarter. Fiduciary Financial Group LLC increased its position in Travelers Companies by 9.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,394 shares of the insurance provider’s stock worth $404,000 after buying an additional 118 shares during the period. Finally, Curated Wealth Partners LLC acquired a new position in Travelers Companies during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

About Travelers Companies

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.