The Travelers Cos. (TRV) Given New $123.00 Price Target at Citigroup Inc.
The Travelers Cos. (NYSE:TRV) had its price target increased by research analysts at Citigroup Inc. from $117.00 to $123.00 in a research note issued on Tuesday. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 6.83% from the stock’s current price.
Other analysts have also issued research reports about the stock. Bank of America Corp. raised shares of The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 target price for the company in a report on Tuesday, June 28th. They noted that the move was a valuation call. Barclays PLC reaffirmed an “equal weight” rating and set a $109.00 target price (up previously from $105.00) on shares of The Travelers Cos. in a report on Saturday, October 1st. Credit Suisse Group AG set a $111.00 price target on shares of The Travelers Cos. and gave the company a “hold” rating in a report on Monday, September 12th. Zacks Investment Research raised shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $120.00 price target (up previously from $117.00) on shares of The Travelers Cos. in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $117.00.
The Travelers Cos. (NYSE:TRV) traded down 0.96% on Tuesday, hitting $114.04. The company had a trading volume of 658,019 shares. The Travelers Cos. has a 12-month low of $101.23 and a 12-month high of $119.32. The firm’s 50 day moving average price is $115.76 and its 200 day moving average price is $115.07. The stock has a market cap of $32.88 billion, a P/E ratio of 10.98 and a beta of 1.14.
The Travelers Cos. (NYSE:TRV) last released its earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.05. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The firm earned $6.79 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the business earned $2.52 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that The Travelers Cos. will post $9.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.68 annualized dividend and a yield of 2.33%. The Travelers Cos.’s dividend payout ratio (DPR) is presently 25.92%.
In other The Travelers Cos. news, Vice Chairman Jay S. Benet sold 5,797 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $116.21, for a total transaction of $673,669.37. Following the sale, the insider now directly owns 71,352 shares of the company’s stock, valued at approximately $8,291,815.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andy F. Bessette sold 8,554 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $117.58, for a total transaction of $1,005,779.32. Following the sale, the executive vice president now directly owns 14,659 shares in the company, valued at $1,723,605.22. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of The Travelers Cos. by 86.8% in the second quarter. Global X Management Co. LLC now owns 977 shares of the company’s stock valued at $116,000 after buying an additional 454 shares during the period. Mycio Wealth Partners LLC boosted its stake in shares of The Travelers Cos. by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,062 shares of the company’s stock valued at $126,000 after buying an additional 25 shares during the period. Ledyard National Bank boosted its stake in shares of The Travelers Cos. by 5.4% in the second quarter. Ledyard National Bank now owns 1,089 shares of the company’s stock valued at $130,000 after buying an additional 56 shares during the period. Krilogy Financial LLC boosted its stake in shares of The Travelers Cos. by 3.8% in the second quarter. Krilogy Financial LLC now owns 1,128 shares of the company’s stock valued at $134,000 after buying an additional 41 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of The Travelers Cos. by 53.4% in the second quarter. Valley National Advisers Inc. now owns 1,227 shares of the company’s stock valued at $146,000 after buying an additional 427 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
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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