The Travelers Cos. (NYSE:TRV) Receives $115.88 Consensus Target Price from Analysts
The Travelers Cos. (NYSE:TRV) has been given an average recommendation of “Hold” by the fourteen ratings firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $115.11.
Several brokerages have recently commented on TRV. Citigroup Inc. restated a “neutral” rating on shares of The Travelers Cos. in a research note on Tuesday, June 21st. Royal Bank Of Canada raised their price target on The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. BMO Capital Markets restated a “market perform” rating and set a $120.00 price target (up previously from $117.00) on shares of The Travelers Cos. in a research note on Tuesday, July 12th. Credit Suisse Group AG set a $111.00 price target on The Travelers Cos. and gave the company a “hold” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research lowered The Travelers Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th.
The Travelers Cos. (NYSE:TRV) opened at 114.55 on Friday. The stock has a market cap of $33.02 billion, a price-to-earnings ratio of 11.03 and a beta of 1.07. The firm has a 50-day moving average price of $116.49 and a 200-day moving average price of $115.16. The Travelers Cos. has a 12 month low of $100.48 and a 12 month high of $119.32.
The Travelers Cos. (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.19 by $0.05. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.37 billion. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.52 earnings per share. Equities research analysts expect that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Wednesday, September 7th. The Travelers Cos.’s payout ratio is 25.92%.
In other news, CFO Jay S. Benet sold 5,797 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $118.12, for a total value of $684,741.64. Following the completion of the transaction, the chief financial officer now directly owns 71,352 shares in the company, valued at $8,428,098.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andy F. Bessette sold 8,554 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $117.58, for a total value of $1,005,779.32. Following the completion of the transaction, the executive vice president now owns 14,659 shares of the company’s stock, valued at $1,723,605.22. The disclosure for this sale can be found here. 1.34% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cohen & Steers Inc. boosted its position in shares of 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 valued at $672,090,000 after buying an additional 6,311,380 shares in the last quarter. Bank of Montreal Can bought a new position in shares of The Travelers Cos. during the second quarter valued at $374,228,000. UBS Asset Management Americas Inc. boosted its position in shares of 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 valued at $261,070,000 after buying an additional 551,568 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of 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 valued at $191,212,000 after buying an additional 511,608 shares in the last quarter. Finally, Norges Bank bought a new position in shares of The Travelers Cos. during the fourth quarter valued at $54,470,000. Hedge funds and other institutional investors 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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