Travelers Companies (NYSE:TRV) Price Target Raised to $435.00

Travelers Companies (NYSE:TRV) had its target price upped by Truist Financial from $425.00 to $435.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

TRV has been the subject of several other research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Roth Capital raised their price objective on Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Barclays boosted their target price on Travelers Companies from $295.00 to $318.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Travelers Companies from a “buy (a)” rating to a “buy (a+)” rating in a research note on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and an average target price of $364.32.

Travelers Companies Trading Up 0.8%

NYSE:TRV opened at $398.83 on Monday. The stock has a market capitalization of $81.74 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.80 and a beta of 0.43. Travelers Companies has a 52 week low of $264.25 and a 52 week high of $399.71. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $370.12 and a 200 day moving average of $339.95.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Friday, October 16th. The insurance provider reported $9.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.39 by $1.79. Travelers Companies had a net margin of 17.03% and a return on equity of 26.19%. The business had revenue of $12.41 billion for the quarter, compared to analyst estimates of $11.36 billion. During the same period in the previous year, the company earned $8.14 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Travelers Companies will post 35.47 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be paid a $1.25 dividend. The ex-dividend date is Thursday, December 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Travelers Companies’s dividend payout ratio (DPR) is 13.11%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Diane Kurtzman sold 4,164 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the completion of the transaction, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $2,048,789.58. This trade represents a 44.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Maria Olivo sold 6,000 shares of the firm’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 transaction, the executive vice president directly owned 118,742 shares of the company’s stock, valued at approximately $43,917,916.12. This represents a 4.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 17,317 shares of company stock valued at $6,597,631. Insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Travelers Companies in the 2nd quarter valued at $6,915,909,000. Dimensional Fund Advisors LP raised its stake in Travelers Companies by 3.7% in 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 during the last quarter. Bank of America Corp DE acquired a new stake in Travelers Companies during the 2nd quarter worth about $932,142,000. GQG Partners LLC acquired a new stake in Travelers Companies during the 2nd quarter worth about $789,024,000. Finally, Legal & General Group Plc acquired a new stake in Travelers Companies during the 2nd quarter worth about $558,164,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies News Roundup

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

• Positive Sentiment: Wells Fargo said Travelers’ stock is expected to rise, adding to the positive analyst sentiment following the company’s earnings performance. Wells Fargo Travelers stock outlook
• Positive Sentiment: Truist Financial raised its price target for Travelers, signaling improved expectations for the insurer’s valuation. Truist raises Travelers price target
• Positive Sentiment: Travelers reported third-quarter earnings of $9.18 per share, well above the $7.39 consensus estimate, while revenue also exceeded expectations. The earnings beat supports the recent strength in TRV shares.
• Positive Sentiment: Analysts’ overall fair-value estimates moved modestly higher after the third-quarter results, reflecting better operating expectations for the insurer. Travelers fair value lift

About Travelers Companies

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers’ compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.