Travelers Companies (NYSE:TRV) Price Target Raised to $330.00

Travelers Companies (NYSE:TRVFree Report) had its price target increased by Morgan Stanley from $290.00 to $330.00 in a report published on Tuesday, MarketBeat reports. Morgan Stanley currently has an underweight rating on the insurance provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Mizuho lifted their price target on shares of Travelers Companies from $304.00 to $324.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Evercore set a $329.00 price objective on shares of Travelers Companies and gave the stock an “in-line” rating in a report on Friday, July 10th. The Goldman Sachs Group downgraded shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 target price for the company. in a research note on Monday. Weiss Ratings reiterated a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. Finally, BMO Capital Markets cut Travelers Companies from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $314.00 to $379.00 in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $353.26.

Check Out Our Latest Stock Analysis on Travelers Companies

Travelers Companies Stock Up 1.2%

TRV stock opened at $376.40 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.35 and a current ratio of 0.33. Travelers Companies has a fifty-two week low of $252.26 and a fifty-two week high of $378.66. The company has a market capitalization of $78.51 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 3.76 and a beta of 0.46. The business’s 50 day moving average price is $320.31 and its two-hundred day moving average price is $303.89.

Travelers Companies (NYSE:TRVGet Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.51 earnings per share. As a group, analysts forecast that Travelers Companies will post 31.83 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio is 13.39%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of Travelers Companies stock in a transaction dated 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. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $13,882,706.25. This represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,292 shares of company stock worth $5,639,800. 1.39% of the stock is owned by corporate insiders.

Institutional Trading of Travelers Companies

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

Key Headlines Impacting Travelers Companies

Here are the key news stories impacting Travelers Companies this week:

Travelers Companies Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Travelers Companies (NYSE:TRV)

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.