Travelers Companies (NYSE:TRV) Upgraded to “Buy” at StockNews.com

Travelers Companies (NYSE:TRV) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

TRV has been the subject of several other research reports. Morgan Stanley decreased their target price on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $225.00 target price on shares of Travelers Companies in a report on Monday, July 22nd. Piper Sandler cut their price target on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Citigroup upped their price objective on shares of Travelers Companies from $200.00 to $203.00 and gave the company a “sell” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Travelers Companies from $220.00 to $242.00 and gave the stock an “underweight” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $227.05.

Travelers Companies Stock Up 0.4 %

Travelers Companies stock traded up $0.95 during trading on Friday, reaching $238.53. The stock had a trading volume of 2,136,007 shares, compared to its average volume of 1,342,758. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.32. Travelers Companies has a 52-week low of $157.33 and a 52-week high of $243.48. The stock has a market cap of $54.37 billion, a PE ratio of 17.72, a P/E/G ratio of 1.26 and a beta of 0.62. The business has a 50 day moving average price of $221.42 and a 200 day moving average price of $217.57.

Travelers Companies (NYSE:TRV) last issued its earnings results on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.35 billion. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Travelers Companies will post 17.19 EPS for the current year.

Insider Activity at Travelers Companies

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

Hedge Funds Weigh In On Travelers Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Travelers Companies by 36.8% during the first quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after buying an additional 3,158,979 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Travelers Companies by 356.4% in the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock worth $176,589,000 after acquiring an additional 678,241 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Travelers Companies in the 1st quarter worth approximately $88,190,000. Point72 Asset Management L.P. raised its holdings in Travelers Companies by 6,167.2% during the fourth quarter. Point72 Asset Management L.P. now owns 333,854 shares of the insurance provider’s stock worth $63,596,000 after purchasing an additional 328,527 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Travelers Companies by 324.9% during the second quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock worth $61,324,000 after purchasing an additional 230,612 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

About Travelers Companies

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.