Travelers Companies (NYSE:TRV) Price Target Raised to $319.00

Travelers Companies (NYSE:TRV) had its target price upped by research analysts at Cantor Fitzgerald from $316.00 to $319.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 11.19% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Roth Mkm increased their target price on shares of Travelers Companies from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Zacks Research lowered shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Evercore ISI raised their target price on Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Wells Fargo & Company decreased their target price on shares of Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Travelers Companies from $317.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $303.00.

Travelers Companies Stock Up 0.8%

NYSE:TRV traded up $2.39 during mid-day trading on Monday, hitting $286.90. 350,388 shares of the company’s stock traded hands, compared to its average volume of 1,713,128. The company has a fifty day moving average of $284.77 and a 200 day moving average of $276.95. Travelers Companies has a twelve month low of $230.43 and a twelve month high of $296.85. The company has a market capitalization of $64.00 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.64 and a beta of 0.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, beating analysts’ consensus estimates of $8.34 by $2.79. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $9.15 EPS. On average, analysts forecast that Travelers Companies will post 17.02 EPS for the current year.

Travelers Companies announced that its board has approved a stock repurchase program on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Daniel S. Frey sold 25,000 shares of Travelers Companies stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $278.25, for a total value of $6,956,250.00. Following the completion of the transaction, the chief financial officer owned 26,932 shares in the company, valued at approximately $7,493,829. This trade represents a 48.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $279.77, for a total value of $4,675,516.24. Following the transaction, the executive vice president owned 6,075 shares of the company’s stock, valued at $1,699,602.75. This trade represents a 73.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,435 shares of company stock worth $15,366,736 in the last quarter. Company insiders own 1.46% of the company’s stock.

Institutional Trading of Travelers Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avalon Trust Co increased its holdings in shares of Travelers Companies by 23.4% in the second quarter. Avalon Trust Co now owns 7,541 shares of the insurance provider’s stock worth $2,018,000 after buying an additional 1,429 shares during the period. Liberty One Investment Management LLC grew its position in shares of Travelers Companies by 32.3% in the 3rd quarter. Liberty One Investment Management LLC now owns 26,228 shares of the insurance provider’s stock worth $7,323,000 after buying an additional 6,408 shares during the last quarter. CWM LLC increased its position in Travelers Companies by 11.3% during the 3rd quarter. CWM LLC now owns 135,143 shares of the insurance provider’s stock valued at $37,735,000 after purchasing an additional 13,758 shares during the period. Compass Wealth Management LLC raised its position in shares of Travelers Companies by 147.5% in the 3rd quarter. Compass Wealth Management LLC now owns 28,830 shares of the insurance provider’s stock worth $8,050,000 after acquiring an additional 17,181 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Travelers Companies by 1,641.3% in the third quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock worth $105,537,000 after purchasing an additional 357,687 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.

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.