Bank of America Boosts Travelers Companies (NYSE:TRV) Price Target to $265.00

Travelers Companies (NYSE:TRV) had its price objective upped by Bank of America from $241.00 to $265.00 in a research report released on Thursday morning, Benzinga reports. Bank of America currently has an underperform rating on the insurance provider’s stock.

Several other analysts have also recently commented on the company. Barclays started coverage on Travelers Companies in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $286.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $225.00 target price on shares of Travelers Companies in a research report on Monday, July 22nd. TD Cowen cut Travelers Companies from a “buy” rating to a “hold” rating and decreased their target price for the stock from $252.00 to $230.00 in a research report on Monday, July 15th. Jefferies Financial Group raised their target price on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their target price on Travelers Companies from $196.00 to $216.00 and gave the stock a “sell” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Travelers Companies currently has an average rating of “Hold” and an average target price of $235.42.

Travelers Companies Stock Performance

TRV opened at $265.45 on Thursday. The firm has a market cap of $60.50 billion, a PE ratio of 16.78, a P/E/G ratio of 1.26 and a beta of 0.62. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $231.88 and a 200-day simple moving average of $219.59. Travelers Companies has a fifty-two week low of $157.33 and a fifty-two week high of $269.55.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, topping the consensus estimate of $3.79 by $1.45. The business had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $1.95 EPS. As a group, equities analysts predict that Travelers Companies will post 17.09 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.58%. Travelers Companies’s dividend payout ratio (DPR) is currently 26.55%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 22,798 shares in the company, valued at $4,820,409.12. This trade represents a 0.00 % 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. Corporate insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Institutional investors have recently made changes to their positions in the business. Y.D. More Investments Ltd bought a new position in shares of Travelers Companies in the second quarter worth about $25,000. Pathway Financial Advisers LLC bought a new position in shares of Travelers Companies in the first quarter worth about $35,000. Beacon Capital Management LLC increased its stake in shares of Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Wolff Wiese Magana LLC increased its stake 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 worth $37,000 after purchasing an additional 45 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Travelers Companies in the first quarter worth about $42,000. 82.45% of the stock is currently owned by institutional investors.

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.