Travelers Companies (NYSE:TRV) Price Target Raised to $343.00

Travelers Companies (NYSE:TRV) had its price objective upped by Mizuho from $324.00 to $343.00 in a research report report published on Friday,Benzinga reports. Mizuho currently has a neutral rating on the insurance provider’s stock.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial set a $430.00 price target on Travelers Companies in a report on Monday, July 20th. The Goldman Sachs Group lowered Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective on the stock. in a research note on Monday, July 20th. Cantor Fitzgerald raised their price objective on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. HSBC lifted their target price on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Finally, Citigroup restated a “market perform” rating on shares of Travelers Companies in a research note on Monday, July 20th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average target price of $354.26.

Travelers Companies Stock Performance

NYSE TRV opened at $387.42 on Friday. The firm has a market capitalization of $80.80 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 3.83 and a beta of 0.46. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $322.06 and its two-hundred day moving average price is $304.59. Travelers Companies has a 1 year low of $252.26 and a 1 year high of $389.11.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $6.51 EPS. As a group, research analysts anticipate that Travelers Companies will post 32.49 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a yield of 1.3%. Travelers Companies’s dividend payout ratio (DPR) is 13.39%.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the transaction, the executive vice president owned 45,125 shares of the company’s stock, valued at approximately $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Avrohom J. Kess sold 6,735 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the transaction, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. The trade was a 12.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,292 shares of company stock worth $5,639,800 over the last quarter. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after acquiring an additional 387 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Travelers Companies during the fourth quarter worth about $276,000. WINTON GROUP Ltd acquired a new stake in Travelers Companies in the 2nd quarter worth about $382,000. CIBC Asset Management Inc raised its stake in Travelers Companies by 13.9% in the 2nd 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 in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in 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 valued at $28,254,000 after purchasing an additional 2,117 shares during the period. Institutional investors own 82.45% of the company’s stock.

Travelers Companies News Summary

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

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.