Travelers Companies (NYSE:TRV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Travelers Companies (NYSE:TRV) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other analysts have also recently commented on the company. Royal Bank of Canada increased their target price on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Travelers Companies from $220.00 to $242.00 and gave the company an “underweight” rating in a report on Thursday, July 11th. Piper Sandler reduced their price objective on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Wells Fargo & Company lifted their target price on Travelers Companies from $207.00 to $256.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $247.90.

Travelers Companies Trading Down 0.1 %

Shares of Travelers Companies stock opened at $245.64 on Thursday. The stock has a market capitalization of $55.77 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62. Travelers Companies has a 12-month low of $165.84 and a 12-month high of $269.55. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $239.19 and a 200 day simple moving average of $221.60.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The company had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. Travelers Companies’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 earnings per share. Research analysts expect that Travelers Companies will post 18.53 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s payout ratio is presently 21.54%.

Insiders Place Their Bets

In other news, Vice Chairman William H. Heyman sold 3,000 shares of Travelers Companies stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total value of $781,650.00. Following the completion of the transaction, the insider now owns 250,384 shares of the company’s stock, valued at $65,237,551.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Vice Chairman William H. Heyman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total transaction of $781,650.00. Following the completion of the sale, the insider now owns 250,384 shares in the company, valued at approximately $65,237,551.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the transaction, the chief executive officer now directly owns 221,924 shares in the company, valued at approximately $57,726,870.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,999 shares of company stock valued at $16,580,166. 1.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travelers Companies

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Travelers Companies by 36.8% in the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after purchasing an additional 3,158,979 shares in the last quarter. Acadian Asset Management LLC grew its position in Travelers Companies by 356.4% during the second quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock worth $176,589,000 after buying an additional 678,241 shares in the last quarter. International Assets Investment Management LLC increased its stake in Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after acquiring an additional 518,075 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Travelers Companies in the 1st quarter valued at $88,190,000. Finally, Renaissance Technologies LLC lifted its position in shares of Travelers Companies by 324.9% during the 2nd quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock valued at $61,324,000 after acquiring an additional 230,612 shares during the period. Institutional investors own 82.45% of the company’s stock.

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.