Wells Fargo & Company Raises Travelers Companies (NYSE:TRV) Price Target to $256.00

Travelers Companies (NYSE:TRV) had its price objective hoisted by Wells Fargo & Company from $207.00 to $256.00 in a report issued on Monday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other equities research analysts have also weighed in on TRV. William Blair reissued a “market perform” rating on shares of Travelers Companies in a report on Friday, June 28th. Morgan Stanley cut their price objective on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Bank of America raised their price objective on Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research note on Thursday, October 17th. Piper Sandler dropped their target price on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Barclays assumed coverage on shares of Travelers Companies in a research report on Wednesday, September 4th. They set an “overweight” rating and a $286.00 price target for the company. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $247.90.

Travelers Companies Stock Down 0.7 %

Shares of TRV stock opened at $257.35 on Monday. The stock’s fifty day moving average price is $234.71 and its 200 day moving average price is $220.20. Travelers Companies has a 1-year low of $157.33 and a 1-year high of $269.55. The company has a market cap of $58.66 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.45. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 earnings per share. On average, research analysts expect that Travelers Companies will post 17.45 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s payout ratio is 21.54%.

Insider Activity

In related news, CEO Alan D. Schnitzer sold 40,524 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the sale, the chief executive officer now owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Alan D. Schnitzer sold 40,524 shares of Travelers Companies stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the sale, the chief executive officer now owns 221,924 shares in the company, valued at $57,726,870.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Diane Kurtzman sold 3,941 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the sale, the executive vice president now directly owns 1,715 shares of the company’s stock, valued at $446,671.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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 made changes to their positions in the company. Y.D. More Investments Ltd purchased a new stake in shares of Travelers Companies during the second quarter worth approximately $25,000. Pathway Financial Advisers LLC acquired a new stake in Travelers Companies during the 1st quarter worth $35,000. Beacon Capital Management LLC grew its holdings in shares of Travelers Companies by 74.2% during the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Wolff Wiese Magana LLC raised its position in shares of Travelers Companies by 39.1% in the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after buying an additional 45 shares during the last quarter. Finally, Tributary Capital Management LLC acquired a new stake in shares of Travelers Companies in the first quarter valued at about $45,000. Hedge funds and other 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.