Citigroup Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock

Travelers Companies (NYSE:TRV) had its price objective hoisted by research analysts at Citigroup from $315.00 to $385.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price objective indicates a potential upside of 4.94% from the company’s current price.

Several other analysts also recently issued reports on the company. Morgan Stanley downgraded Travelers Companies from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $333.00 to $290.00 in a research note on Wednesday, July 15th. Piper Sandler increased their price target on shares of Travelers Companies to $340.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Truist Financial lifted their target price on Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday. Evercore set a $329.00 price target on shares of Travelers Companies and gave the company an “in-line” rating in a report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and an average target price of $341.00.

Travelers Companies Trading Down 0.6%

Shares of NYSE TRV traded down $2.12 during midday trading on Monday, reaching $366.86. 1,176,863 shares of the stock were exchanged, compared to its average volume of 1,659,817. The business has a 50-day simple moving average of $314.35 and a two-hundred day simple moving average of $301.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.35. The company has a market capitalization of $78.01 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 3.28 and a beta of 0.46. Travelers Companies has a 12 month low of $252.26 and a 12 month high of $371.94.

Travelers Companies (NYSE:TRV) last posted its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion during 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 company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.51 earnings per share. As a group, equities research analysts expect that Travelers Companies will post 28.39 EPS for the current year.

Insider Transactions at Travelers Companies

In related news, insider Avrohom J. Kess sold 6,735 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the transaction, the insider owned 48,737 shares in the company, valued at $15,049,010.86. This trade represents a 12.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the transaction, the insider directly owned 259,590 shares of the company’s stock, valued at $80,639,037.60. The trade was a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 18,292 shares of company stock worth $5,639,800. Corporate insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC raised its holdings in Travelers Companies by 145.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Travelers Companies during the first quarter valued at about $26,000. LifeSteps Financial Inc. bought a new position in Travelers Companies in the second quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Travelers Companies in the 4th quarter worth $26,000. Finally, Osterweis Capital Management Inc. lifted its stake 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 valued at $26,000 after buying an additional 91 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

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.