Travelers Companies (NYSE:TRV) Stock Gets Price Target Cut from Mizuho

Travelers Companies (NYSE:TRV) had its target price lowered by Mizuho from $348.00 to $345.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

Several other research firms also recently commented on TRV. The Goldman Sachs Group downgraded shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price target on the stock. in a research note on Monday, July 20th. UBS Group raised their target price on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Morgan Stanley lifted their price target on shares of Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Roth Capital increased their price objective on Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Piper Sandler raised their price objective on Travelers Companies to $340.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $356.89.

Travelers Companies Price Performance

TRV opened at $368.62 on Wednesday. The business has a fifty day moving average of $369.18 and a 200 day moving average of $334.42. The stock has a market cap of $76.88 billion, a P/E ratio of 9.87, a PEG ratio of 3.05 and a beta of 0.43. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. Travelers Companies has a 52-week low of $252.26 and a 52-week high of $398.70.

Travelers Companies (NYSE:TRV) last released its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.51 earnings per share. As a group, sell-side analysts anticipate that Travelers Companies will post 33.98 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, September 10th. Travelers Companies’s dividend payout ratio is presently 13.39%.

Insider Activity

In other Travelers Companies news, EVP Maria Olivo sold 6,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $369.86, for a total transaction of $2,219,160.00. Following the completion of the sale, the executive vice president owned 118,742 shares in the company, valued at $43,917,916.12. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares in the company, valued at $10,139,488.40. This trade represents a 33.77% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 58,667 shares of company stock valued at $21,830,989. 1.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travelers Companies

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Travelers Companies during the second quarter valued at about $6,915,909,000. State Street Corp grew its position in shares of Travelers Companies by 3.1% in the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock worth $4,641,093,000 after buying an additional 486,861 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after acquiring an additional 123,564 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Travelers Companies during the 2nd quarter worth approximately $932,142,000. Finally, GQG Partners LLC purchased a new stake in Travelers Companies during the second quarter valued at approximately $789,024,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

More Travelers Companies News

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Travelers has the potential for an earnings beat, according to Zacks, which cites favorable earnings-estimate revisions and other indicators ahead of the company’s quarterly report. This follows a strong prior quarter in which Travelers substantially exceeded EPS and revenue expectations. Travelers Expected to Beat Earnings Estimates
• Positive Sentiment: Cantor Fitzgerald raised its price target for Travelers, adding to evidence that some analysts see further value in the insurer.
• Positive Sentiment: Travelers was included among insurers positioned to benefit from the expanding embedded-insurance market, a potential longer-term growth opportunity. Insurers Benefiting From Embedded Insurance
• Neutral Sentiment: Investors are focused on Travelers’ upcoming quarterly earnings release, with recent coverage highlighting revised Wall Street expectations and the importance of catastrophe losses, underwriting results and investment income. Wall Street Forecasts Ahead of Travelers Earnings
• Negative Sentiment: JPMorgan raised its price target modestly to $352 but maintained a neutral rating. The target implies roughly 4.5% downside from the referenced market level, limiting the bullish impact of the revision.
• Negative Sentiment: Barclays reiterated a sell rating, while Mizuho lowered its expectations for Travelers’ stock price. These cautious calls likely contributed to pressure on TRV ahead of earnings.

Travelers Companies Company Profile

Travelers Companies, Inc is an insurance provider that offers property and casualty coverage to individuals, businesses and organizations. The company operates through three primary segments: Personal Insurance, Business Insurance, and Bond & Specialty Insurance.

Its products and services include automobile and homeowners insurance, workers’ compensation, commercial property and casualty coverage, general and professional liability insurance, surety and fidelity bonds, and specialized insurance solutions for industries and businesses with complex risks.