Travelers Companies (NYSE:TRV) Sets New 12-Month High After Analyst Upgrade

The Travelers Companies, Inc. (NYSE:TRV)’s stock price hit a new 52-week high during mid-day trading on Monday after HSBC raised their price target on the stock from $321.00 to $351.00. HSBC currently has a hold rating on the stock. Travelers Companies traded as high as $342.31 and last traded at $340.8320, with a volume of 1433422 shares traded. The stock had previously closed at $342.31.

TRV has been the subject of a number of other research reports. Seaport Research Partners set a $322.00 price target on Travelers Companies in a research report on Tuesday, May 26th. Roth Mkm reiterated a “buy” rating on shares of Travelers Companies in a research note on Monday, April 20th. Barclays downgraded shares of Travelers Companies from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $331.00 to $295.00 in a research note on Friday, June 12th. Piper Sandler raised their price target on shares of Travelers Companies from $329.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Travelers Companies has an average rating of “Hold” and an average price target of $311.69.

Insider Buying and Selling

In related news, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares in the company, valued at approximately $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman William H. Heyman sold 1,557 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the sale, the insider directly owned 259,590 shares in the company, valued at $80,639,037.60. This represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,573 shares of company stock worth $11,504,146 over the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travelers Companies

A number of hedge funds have recently bought and sold shares of TRV. Brighton Jones LLC lifted its stake in Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 387 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Travelers Companies during the fourth quarter valued at $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies during the second quarter valued at $382,000. CIBC Asset Management Inc raised its holdings in shares of Travelers Companies by 13.9% during the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after purchasing an additional 8,383 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after buying an additional 2,117 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Stock Performance

The stock’s 50-day moving average price is $306.77 and its 200-day moving average price is $298.14. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $72.39 billion, a P/E ratio of 10.14, a P/E/G ratio of 3.09 and a beta of 0.46.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating the consensus estimate of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same period in the prior year, the company earned $1.91 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that The Travelers Companies, Inc. will post 28 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th were issued a $1.25 dividend. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.5%. Travelers Companies’s dividend payout ratio is 14.88%.

Travelers Companies Company Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.