Travelers Companies (NYSE:TRV) Hits New 52-Week High at $243.48

The Travelers Companies, Inc. (NYSE:TRV)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $243.48 and last traded at $240.55, with a volume of 107231 shares traded. The stock had previously closed at $242.26.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRV shares. Piper Sandler lowered their price target on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley lowered their price target on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. StockNews.com downgraded Travelers Companies from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Bank of America increased their price objective on Travelers Companies from $202.00 to $223.00 and gave the stock an “underperform” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $227.05.

Travelers Companies Stock Down 0.8 %

The firm has a 50-day moving average of $220.31 and a 200 day moving average of $217.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $54.89 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.22 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.23 by ($0.72). Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.35 billion. During the same period last year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.19 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.75%. Travelers Companies’s payout ratio is 31.20%.

Insider Activity

In other news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the completion of the sale, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at $4,820,409.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several hedge funds and other institutional investors have recently modified their holdings of TRV. JPMorgan Chase & Co. increased its stake in shares of Travelers Companies by 36.8% in the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock valued at $2,702,588,000 after purchasing an additional 3,158,979 shares during the last quarter. Norges Bank acquired a new stake in shares of Travelers Companies during the 4th quarter valued at $282,593,000. Acadian Asset Management LLC boosted its holdings in shares of Travelers Companies by 356.4% during the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock valued at $176,589,000 after acquiring an additional 678,241 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Travelers Companies during the 1st quarter valued at $88,190,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Travelers Companies by 6,167.2% during the 4th quarter. Point72 Asset Management L.P. now owns 333,854 shares of the insurance provider’s stock valued at $63,596,000 after acquiring an additional 328,527 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Company Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.