Barclays PLC Reiterates “Equal Weight” Rating for The Travelers Cos. (TRV)
The Travelers Cos. (NYSE:TRV)‘s stock had its “equal weight” rating reissued by research analysts at Barclays PLC in a report issued on Saturday. They currently have a $109.00 price target on the stock, up from their previous price target of $105.00. Barclays PLC’s price objective points to a potential downside of 4.85% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Royal Bank Of Canada raised their target price on shares of The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, July 22nd. RBC Capital Markets reissued an “outperform” rating and set a $125.00 target price (up previously from $120.00) on shares of The Travelers Cos. in a report on Sunday, July 24th. Citigroup Inc. reissued a “neutral” rating on shares of The Travelers Cos. in a report on Tuesday, June 21st. Finally, Macquarie reissued an “underperform” rating and set a $92.00 target price on shares of The Travelers Cos. in a report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $116.75.
The Travelers Cos. (NYSE:TRV) opened at 114.55 on Friday. The stock’s 50 day moving average price is $116.49 and its 200-day moving average price is $115.16. The company has a market capitalization of $33.02 billion, a PE ratio of 11.03 and a beta of 1.07. The Travelers Cos. has a 52 week low of $100.48 and a 52 week high of $119.32.
The Travelers Cos. (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.05. The business earned $6.79 billion during the quarter, compared to analysts’ expectations of $6.37 billion. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.52 earnings per share. On average, equities research analysts predict that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a $0.67 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.68 annualized dividend and a dividend yield of 2.34%. The Travelers Cos.’s dividend payout ratio (DPR) is 25.92%.
In other news, CFO Jay S. Benet sold 5,797 shares of The Travelers Cos. stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $118.28, for a total value of $685,669.16. Following the sale, the chief financial officer now owns 71,352 shares in the company, valued at $8,439,514.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andy F. Bessette sold 8,554 shares of The Travelers Cos. stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $117.58, for a total transaction of $1,005,779.32. Following the completion of the sale, the executive vice president now owns 14,659 shares in the company, valued at approximately $1,723,605.22. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. raised its position in The Travelers Cos. by 573,761.8% in the second quarter. Cohen & Steers Inc. now owns 6,312,480 shares of the company’s stock worth $672,090,000 after buying an additional 6,311,380 shares during the last quarter. Bank of Montreal Can acquired a new position in The Travelers Cos. during the second quarter worth $374,228,000. UBS Asset Management Americas Inc. raised its position in The Travelers Cos. by 32.7% in the first quarter. UBS Asset Management Americas Inc. now owns 2,236,907 shares of the company’s stock worth $261,070,000 after buying an additional 551,568 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in The Travelers Cos. by 46.7% in the second quarter. TIAA CREF Investment Management LLC now owns 1,606,286 shares of the company’s stock worth $191,212,000 after buying an additional 511,608 shares during the last quarter. Finally, Norges Bank acquired a new position in The Travelers Cos. during the fourth quarter worth $54,470,000. Institutional investors and hedge funds own 80.13% of the company’s stock.
The Travelers Cos. Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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