Bank of America Raises Travelers Companies (NYSE:TRV) Price Target to $241.00

Travelers Companies (NYSE:TRV) had its target price hoisted by Bank of America from $223.00 to $241.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an underperform rating on the insurance provider’s stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on Travelers Companies from $196.00 to $216.00 and gave the company a sell rating in a research report on Wednesday. Morgan Stanley reduced their price target on Travelers Companies from $220.00 to $210.00 and set an equal weight rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on Travelers Companies from $220.00 to $242.00 and gave the company an underweight rating in a research report on Thursday, July 11th. StockNews.com cut Travelers Companies from a buy rating to a hold rating in a research report on Saturday, September 28th. Finally, Citigroup increased their price target on Travelers Companies from $200.00 to $203.00 and gave the company a sell rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $230.89.

Travelers Companies Stock Performance

TRV stock opened at $233.20 on Thursday. The business’s 50-day moving average price is $227.36 and its two-hundred day moving average price is $218.79. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32. The firm has a market cap of $53.15 billion, a PE ratio of 14.74, a P/E/G ratio of 1.21 and a beta of 0.62. Travelers Companies has a 1-year low of $157.33 and a 1-year high of $243.48.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.35 billion. Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. As a group, research analysts forecast that Travelers Companies will post 17.2 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were paid a $1.05 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.80%. Travelers Companies’s payout ratio is 26.55%.

Insider Activity

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 22,798 shares of the company’s stock, valued at $4,820,409.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.33% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Several hedge funds have recently modified their holdings of the company. Willner & Heller LLC boosted its holdings in shares of Travelers Companies by 4.1% during the 3rd quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock valued at $268,000 after acquiring an additional 45 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Travelers Companies during the 3rd quarter worth about $6,565,000. Crestmont Private Wealth LLC acquired a new position in Travelers Companies during the 3rd quarter worth about $206,000. Exchange Bank acquired a new position in shares of Travelers Companies in the 3rd quarter valued at about $286,000. Finally, CHICAGO TRUST Co NA acquired a new position in shares of Travelers Companies in the 3rd quarter valued at about $236,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

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.