Travelers Companies (NYSE:TRV) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Travelers Companies (NYSE:TRV) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

TRV has been the subject of several other research reports. Evercore ISI reiterated an “outperform” rating on shares of Travelers Companies in a research note on Wednesday, October 1st. UBS Group raised their target price on shares of Travelers Companies from $284.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Travelers Companies from $285.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Piper Sandler increased their price target on Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Mizuho began coverage on Travelers Companies in a research note on Monday, December 15th. They set a “neutral” rating and a $317.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $294.25.

Travelers Companies Stock Performance

TRV opened at $292.44 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The business has a fifty day simple moving average of $281.26 and a 200 day simple moving average of $272.92. Travelers Companies has a 1 year low of $230.23 and a 1 year high of $296.85. The company has a market capitalization of $65.23 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, topping the consensus estimate of $6.01 by $2.13. The firm had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $11.15 billion. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $5.24 EPS. Research analysts expect that Travelers Companies will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is 17.30%.

Insider Activity

In other Travelers Companies news, Vice Chairman William H. Heyman sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $287.50, for a total transaction of $575,000.00. Following the completion of the sale, the insider directly owned 255,086 shares in the company, valued at $73,337,225. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel S. Frey sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $278.25, for a total value of $6,956,250.00. Following the completion of the sale, the chief financial officer directly owned 26,932 shares in the company, valued at approximately $7,493,829. This represents a 48.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,295 shares of company stock valued at $13,011,918 in the last three months. Company insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osterweis Capital Management Inc. lifted its holdings in shares of Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 91 shares during the last quarter. Missouri Trust & Investment Co increased its position in Travelers Companies by 122.2% during the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in Travelers Companies in the 2nd quarter valued at approximately $27,000. Barnes Dennig Private Wealth Management LLC lifted its stake in Travelers Companies by 134.1% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Finally, Quaker Wealth Management LLC boosted its position in Travelers Companies by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock valued at $28,000 after buying an additional 208 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

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.