Travelers Companies (NYSE:TRV) Given New $330.00 Price Target at Morgan Stanley

Travelers Companies (NYSE:TRV) had its price target increased by Morgan Stanley from $310.00 to $330.00 in a report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

TRV has been the topic of several other research reports. Keefe, Bruyette & Woods raised their price target on Travelers Companies from $340.00 to $342.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Bank of America cut their price target on shares of Travelers Companies from $259.00 to $257.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. HSBC raised their price objective on shares of Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler upped their target price on shares of Travelers Companies from $329.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upgraded Travelers Companies from an “underweight” rating to a “neutral” rating and raised their price target for the company from $316.00 to $322.00 in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and an average target price of $318.94.

Travelers Companies Stock Performance

Shares of TRV traded up $7.76 during trading hours on Monday, hitting $346.94. The company’s stock had a trading volume of 66,613 shares, compared to its average volume of 1,632,436. The company has a market cap of $73.78 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.09 and a beta of 0.46. Travelers Companies has a 52-week low of $249.19 and a 52-week high of $346.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50 day simple moving average of $306.77 and a two-hundred day simple moving average of $298.14.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.91. The company had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. Travelers Companies’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.91 earnings per share. On average, equities analysts expect that Travelers Companies will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Wednesday, June 10th. Travelers Companies’s payout ratio is currently 14.88%.

Insider Buying and Selling

In related news, insider Avrohom J. Kess sold 6,735 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the completion of the sale, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Diane Kurtzman sold 2,867 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $303.45, for a total transaction of $869,991.15. Following the completion of the transaction, the executive vice president owned 5,298 shares in the company, valued at $1,607,678.10. The trade was a 35.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 37,573 shares of company stock valued at $11,504,146 over the last quarter. Company insiders own 1.39% of the company’s stock.

Institutional Trading of Travelers Companies

Several large investors have recently bought and sold shares of TRV. Brighton Jones LLC lifted 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 bought a new stake in Travelers Companies during the 4th quarter valued at about $276,000. WINTON GROUP Ltd bought a new position in Travelers Companies in the 2nd quarter valued at approximately $382,000. CIBC Asset Management Inc boosted its stake in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Travelers Companies by 2.0% in the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after purchasing an additional 2,117 shares during the last quarter. 82.45% of the stock is 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.