Travelers Companies (NYSE:TRV) Price Target Raised to $324.00 at Mizuho

Travelers Companies (NYSE:TRV) had its target price hoisted by stock analysts at Mizuho from $304.00 to $324.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s target price would suggest a potential downside of 4.29% from the stock’s current price.

A number of other brokerages have also weighed in on TRV. Brean Capital assumed coverage on shares of Travelers Companies in a research note on Thursday, March 12th. They set a “neutral” rating for the company. BMO Capital Markets raised their target price on Travelers Companies from $297.00 to $314.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $356.00 price target (up from $342.00) on shares of Travelers Companies in a report on Wednesday. Barclays downgraded shares of Travelers Companies from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $331.00 to $295.00 in a research report on Friday, June 12th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Travelers Companies in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $324.65.

Travelers Companies Price Performance

TRV opened at $338.51 on Thursday. 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 has a market capitalization of $71.98 billion, a P/E ratio of 10.11, a P/E/G ratio of 3.10 and a beta of 0.46. The company’s 50-day simple moving average is $308.91 and its two-hundred day simple moving average is $299.17. Travelers Companies has a 52-week low of $249.19 and a 52-week high of $349.35.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 earnings per share. As a group, analysts predict that Travelers Companies will post 28.02 EPS for the current year.

Insider Activity

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the completion of the transaction, the insider directly owned 259,590 shares of the company’s stock, valued at approximately $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Avrohom J. Kess sold 6,735 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was 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 owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 37,573 shares of company stock worth $11,504,146. 1.39% of the stock is owned by corporate insiders.

Institutional Trading of Travelers Companies

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider’s stock worth $6,413,207,000 after acquiring an additional 110,311 shares in the last quarter. State Street Corp raised its position in Travelers Companies by 3.1% during the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after purchasing an additional 486,861 shares during the period. Morgan Stanley raised its position in Travelers Companies by 2.3% during the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock valued at $1,100,416,000 after purchasing an additional 85,298 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Travelers Companies by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock valued at $1,016,433,000 after purchasing an additional 123,564 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Travelers Companies in the 4th quarter worth approximately $723,339,000. 82.45% of the stock is currently 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.