The Travelers Cos. (TRV) Price Target Raised to $123.00
The Travelers Cos. (NYSE:TRV) had its price target boosted by Citigroup Inc. from $117.00 to $123.00 in a research report sent to investors on Tuesday. The brokerage currently has a neutral rating on the stock.
A number of other research analysts have also recently weighed in on TRV. Zacks Investment Research upgraded The Travelers Cos. from a sell rating to a hold rating in a research report on Wednesday, August 31st. Bank of America Corp. upgraded The Travelers Cos. from a neutral rating to a buy rating and set a $127.00 price target for the company in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Credit Suisse Group AG restated a hold rating and issued a $111.00 price target on shares of The Travelers Cos. in a research report on Tuesday, August 23rd. Barclays PLC restated an equal weight rating and issued a $109.00 price target (up previously from $105.00) on shares of The Travelers Cos. in a research report on Saturday, October 1st. Finally, Royal Bank Of Canada raised their price target on The Travelers Cos. from $120.00 to $125.00 and gave the company an outperform rating in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The Travelers Cos. currently has a consensus rating of Hold and a consensus target price of $117.00.
The Travelers Cos. (NYSE:TRV) opened at 115.06 on Tuesday. The firm has a market cap of $33.17 billion, a PE ratio of 11.07 and a beta of 1.14. The Travelers Cos. has a 52-week low of $101.23 and a 52-week high of $119.32. The firm has a 50-day moving average of $115.58 and a 200-day moving average of $115.07.
The Travelers Cos. (NYSE:TRV) last released its earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.05. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The company earned $6.79 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the company earned $2.52 earnings per share. The Travelers Cos.’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that The Travelers Cos. will post $9.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Wednesday, September 7th. The Travelers Cos.’s dividend payout ratio is currently 25.92%.
In other news, Vice Chairman Jay S. Benet sold 5,797 shares of The Travelers Cos. stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $116.64, for a total value of $676,162.08. Following the transaction, the insider now directly owns 71,352 shares of the company’s stock, valued at approximately $8,322,497.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip T. Ruegger III acquired 1,700 shares of The Travelers Cos. stock in a transaction dated Wednesday, August 10th. The stock was purchased at an average cost of $117.95 per share, for a total transaction of $200,515.00. Following the completion of the purchase, the director now directly owns 20,126 shares in the company, valued at $2,373,861.70. The disclosure for this purchase can be found here. 1.34% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Columbia Partners L L C Investment Management raised its position in The Travelers Cos. by 1.2% in the first quarter. Columbia Partners L L C Investment Management now owns 9,203 shares of the company’s stock valued at $1,074,000 after buying an additional 112 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in The Travelers Cos. during the first quarter valued at $6,834,000. Bessemer Group Inc. raised its position in The Travelers Cos. by 399.6% in the first quarter. Bessemer Group Inc. now owns 47,835 shares of the company’s stock valued at $5,582,000 after buying an additional 38,260 shares in the last quarter. ING Groep NV raised its position in The Travelers Cos. by 147.9% in the first quarter. ING Groep NV now owns 150,729 shares of the company’s stock valued at $17,598,000 after buying an additional 89,915 shares in the last quarter. Finally, Associated Banc Corp purchased a new position in The Travelers Cos. during the first quarter valued at $205,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.
About The Travelers Cos.
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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