Travelers Companies (NYSE:TRV) Price Target Raised to $397.00

Travelers Companies (NYSE:TRV) had its price objective upped by stock analysts at Cantor Fitzgerald from $378.00 to $397.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald‘s price objective would indicate a potential downside of 0.33% from the stock’s current price.

Several other analysts have also weighed in on the stock. Mizuho lifted their price objective on shares of Travelers Companies from $345.00 to $371.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Barclays upped their price target on shares of Travelers Companies from $295.00 to $318.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Raymond James Financial set a $430.00 price objective on shares of Travelers Companies in a report on Monday, July 20th. The Goldman Sachs Group lowered shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective for the company. in a research note on Monday, July 20th. Finally, HSBC boosted their target price on shares of Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $366.37.

Travelers Companies Trading Up 0.0%

NYSE:TRV opened at $398.33 on Monday. The firm has a market cap of $81.64 billion, a P/E ratio of 10.44, a P/E/G ratio of 2.78 and a beta of 0.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 0.33. Travelers Companies has a 52 week low of $264.25 and a 52 week high of $407.86. The firm’s fifty day moving average is $371.39 and its 200-day moving average is $341.46.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, October 16th. The insurance provider reported $9.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.39 by $1.79. The firm had revenue of $12.41 billion for the quarter, compared to analyst estimates of $11.36 billion. Travelers Companies had a return on equity of 26.19% and a net margin of 17.03%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.14 earnings per share. Equities analysts expect that Travelers Companies will post 35.96 earnings per share for the current year.

Insider Buying and Selling

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 9,016 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $405.57, for a total transaction of $3,656,619.12. Following the sale, the executive vice president owned 6,075 shares in the company, valued at $2,463,837.75. This trade represents a 59.74% 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 Michael Klein sold 7,500 shares of Travelers Companies stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $392.79, for a total value of $2,945,925.00. Following the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at approximately $17,724,648.75. This trade represents a 14.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 166,287 shares of company stock valued at $66,182,760 in the last three months. 1.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travelers Companies

Several institutional investors have recently modified their holdings of TRV. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Travelers Companies in the second quarter valued at about $4,447,000. Bank of Nova Scotia purchased a new stake in shares of Travelers Companies during the second quarter worth about $19,949,000. Haverford Trust Co purchased a new stake in shares of Travelers Companies during the second quarter worth about $1,723,000. Sumitomo Life Insurance Co. bought a new stake in shares of Travelers Companies in the second quarter worth about $1,676,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Travelers Companies by 34.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 13,006 shares of the insurance provider’s stock worth $3,794,000 after purchasing an additional 3,342 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors.

About Travelers Companies

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers’ compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.