Travelers Companies (NYSE:TRV) Price Target Raised to $352.00

Travelers Companies (NYSE:TRV) had its price target increased by research analysts at JPMorgan Chase & Co. from $348.00 to $352.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 4.53% from the company’s current price.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price target on the stock. in a research report on Monday, July 20th. BMO Capital Markets cut shares of Travelers Companies from an “outperform” rating to a “market perform” rating and increased their target price for the company from $314.00 to $379.00 in a research note on Tuesday, July 21st. HSBC lifted their target price on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Truist Financial boosted their price target on Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Raymond James Financial set a $430.00 price target on Travelers Companies in a report on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Travelers Companies currently has an average rating of “Hold” and an average price target of $356.89.

Travelers Companies Stock Performance

Shares of TRV stock traded down $1.58 during trading hours on Friday, reaching $368.69. 368,016 shares of the company’s stock were exchanged, compared to its average volume of 1,642,012. Travelers Companies has a fifty-two week low of $252.26 and a fifty-two week high of $398.70. The stock has a market capitalization of $76.90 billion, a P/E ratio of 9.87, a P/E/G ratio of 2.98 and a beta of 0.43. The business has a fifty day moving average price of $369.30 and a 200-day moving average price of $334.18. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the company posted $6.51 earnings per share. Travelers Companies’s quarterly revenue was up .3% on a year-over-year basis. Analysts predict that Travelers Companies will post 33.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Klein sold 6,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the transaction, the executive vice president owned 45,125 shares of the company’s stock, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Rowland sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the transaction, the executive vice president owned 10,479 shares of the company’s stock, valued at approximately $3,894,939.51. This represents a 32.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,667 shares of company stock valued at $21,830,989 over the last 90 days. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Trust Services Inc. grew its position in Travelers Companies by 286.8% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,899 shares of the insurance provider’s stock valued at $677,000 after acquiring an additional 1,408 shares during the period. Bank of New Hampshire raised its stake in Travelers Companies by 1.5% during the third quarter. Bank of New Hampshire now owns 5,871 shares of the insurance provider’s stock worth $2,093,000 after acquiring an additional 88 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Travelers Companies by 39.4% during the second quarter. QRG Capital Management Inc. now owns 89,892 shares of the insurance provider’s stock valued at $29,675,000 after acquiring an additional 25,395 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Travelers Companies by 14.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,709 shares of the insurance provider’s stock valued at $2,545,000 after acquiring an additional 977 shares during the period. Finally, Bouchey Financial Group Ltd. acquired a new stake in shares of Travelers Companies in the 2nd quarter valued at $234,000. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Company Profile

Travelers Companies, Inc is an insurance provider that offers property and casualty coverage to individuals, businesses and organizations. The company operates through three primary segments: Personal Insurance, Business Insurance, and Bond & Specialty Insurance.

Its products and services include automobile and homeowners insurance, workers’ compensation, commercial property and casualty coverage, general and professional liability insurance, surety and fidelity bonds, and specialized insurance solutions for industries and businesses with complex risks.