Travelers Companies (NYSE:TRV) Cut to “Hold” at HSBC

Travelers Companies (NYSE:TRV) was downgraded by equities research analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $270.00 target price on the insurance provider’s stock. HSBC’s target price indicates a potential upside of 4.21% from the stock’s previous close.

Several other research firms have also recently weighed in on TRV. BMO Capital Markets increased their price target on Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Hsbc Global Res raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Piper Sandler raised Travelers Companies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $259.00 to $310.00 in a report on Friday, January 24th. Wells Fargo & Company raised their target price on Travelers Companies from $213.00 to $225.00 and gave the stock an “underweight” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $268.00 target price (down from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $260.00.

Travelers Companies Stock Up 0.9 %

TRV traded up $2.39 during trading on Monday, hitting $259.09. 48,187 shares of the company’s stock traded hands, compared to its average volume of 1,178,603. The company’s 50 day simple moving average is $248.29 and its two-hundred day simple moving average is $247.17. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29. Travelers Companies has a 12-month low of $200.21 and a 12-month high of $269.56. The stock has a market capitalization of $58.74 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 4.65 and a beta of 0.60.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, beating the consensus estimate of $6.50 by $2.65. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The business had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the business posted $7.01 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Analysts predict that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Institutional Trading of Travelers Companies

Several institutional investors and hedge funds have recently modified their holdings of TRV. Bank of America Corp DE raised its stake in Travelers Companies by 236.9% in the fourth quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock worth $844,854,000 after buying an additional 2,466,098 shares in the last quarter. Norges Bank bought a new position in Travelers Companies in the fourth quarter worth approximately $560,918,000. FMR LLC raised its stake in Travelers Companies by 12.6% in the third quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after buying an additional 1,568,909 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in Travelers Companies by 153.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider’s stock worth $360,694,000 after purchasing an additional 907,266 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Travelers Companies in the fourth quarter worth $138,619,000. Institutional investors 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.