Citigroup Issues Positive Forecast for Travelers Companies (NYSE:TRV) Stock Price

Travelers Companies (NYSE:TRV) had its price objective increased by equities research analysts at Citigroup from $291.00 to $315.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the insurance provider’s stock. Citigroup’s price target indicates a potential upside of 12.36% from the company’s current price.

TRV has been the subject of several other reports. Argus upgraded Travelers Companies to a “strong-buy” rating in a research report on Monday. Evercore ISI boosted their price target on Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Barclays lowered their price target on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Piper Sandler upped their price objective on shares of Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, UBS Group raised their target price on shares of Travelers Companies from $284.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $302.80.

Travelers Companies Stock Performance

Shares of Travelers Companies stock traded down $1.36 during trading on Tuesday, hitting $280.36. 206,808 shares of the stock were exchanged, compared to its average volume of 1,697,993. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.33. Travelers Companies has a 12 month low of $230.43 and a 12 month high of $296.85. The stock’s fifty day moving average is $285.14 and its 200 day moving average is $276.11. The stock has a market cap of $62.54 billion, a PE ratio of 10.17, a P/E/G ratio of 2.63 and a beta of 0.52.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.13 billion. During the same period in the previous year, the business posted $9.15 EPS. Travelers Companies’s revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Travelers Companies will post 17.02 EPS for the current year.

Travelers Companies declared that its board has authorized a stock buyback plan on Wednesday, January 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 8.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 1,803 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $289.55, for a total transaction of $522,058.65. Following the completion of the sale, the insider owned 255,086 shares in the company, valued at approximately $73,860,151.30. This represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $279.77, for a total value of $4,675,516.24. Following the sale, the executive vice president directly owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. This represents a 73.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,435 shares of company stock valued at $15,366,736 in the last ninety days. Company insiders own 1.46% of the company’s stock.

Institutional Trading of Travelers Companies

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its position in Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after buying an additional 387 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Travelers Companies in the fourth quarter worth $276,000. Sound Income Strategies LLC raised its holdings in shares of Travelers Companies by 102.8% during the second quarter. Sound Income Strategies LLC now owns 217 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 110 shares in the last quarter. GC Wealth Management RIA LLC acquired a new stake in Travelers Companies during the second quarter valued at $486,000. Finally, Capital Investment Advisors LLC increased its position in Travelers Companies by 2.2% in the 2nd quarter. Capital Investment Advisors LLC now owns 2,447 shares of the insurance provider’s stock worth $655,000 after purchasing an additional 53 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

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.