Travelers Companies (NYSE:TRV – Get Free Report) had its price target increased by analysts at Wells Fargo & Company from $285.00 to $305.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 0.41% from the stock’s current price.
Other equities research analysts have also issued reports about the company. The Goldman Sachs Group lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 target price for the company. in a report on Wednesday, January 7th. Citigroup restated a “neutral” rating on shares of Travelers Companies in a report on Tuesday, January 27th. Cantor Fitzgerald boosted their target price on Travelers Companies from $316.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Jefferies Financial Group upgraded Travelers Companies to a “hold” rating in a report on Tuesday, January 6th. Finally, Brean Capital started coverage on Travelers Companies in a report on Thursday, March 12th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus price target of $309.57.
Get Our Latest Analysis on TRV
Travelers Companies Stock Up 0.7%
Travelers Companies (NYSE:TRV – Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.34 by $2.79. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $9.15 EPS. Equities research analysts predict that Travelers Companies will post 17.02 EPS for the current fiscal year.
Travelers Companies announced that its board has initiated a share repurchase plan on Wednesday, January 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 8.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Insider Transactions at Travelers Companies
In other news, EVP Maria Olivo sold 10,400 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the sale, the executive vice president directly owned 117,596 shares in the company, valued at approximately $35,366,997. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $301.18, for a total value of $3,011,800.00. Following the sale, the executive vice president owned 33,638 shares in the company, valued at approximately $10,131,092.84. This represents a 22.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 92,845 shares of company stock valued at $27,239,631. Company insiders own 1.46% of the company’s stock.
Institutional Trading of Travelers Companies
Institutional investors and hedge funds have recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Travelers Companies during the fourth quarter valued at approximately $26,000. Barnes Dennig Private Wealth Management LLC grew its position in Travelers Companies by 134.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Osterweis Capital Management Inc. grew its position in Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 91 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Travelers Companies in the fourth quarter valued at $28,000. Finally, Delos Wealth Advisors LLC bought a new stake in Travelers Companies in the second quarter valued at $27,000. 82.45% of the stock is currently owned by 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.
Further Reading
Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.
