Travelers Companies (NYSE:TRV) Shares Gap Up After Analyst Upgrade

The Travelers Companies, Inc. (NYSE:TRVGet Free Report) gapped up before the market opened on Thursday after Bank of America raised their price target on the stock from $223.00 to $241.00. The stock had previously closed at $231.47, but opened at $236.40. Bank of America currently has an underperform rating on the stock. Travelers Companies shares last traded at $234.23, with a volume of 102,944 shares traded.

Several other analysts have also weighed in on TRV. Barclays assumed coverage on Travelers Companies in a report on Wednesday, September 4th. They issued an “overweight” rating and a $286.00 price objective for the company. William Blair reissued a “market perform” rating on shares of Travelers Companies in a report on Friday, June 28th. Morgan Stanley lowered their price objective on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. The Goldman Sachs Group upped their target price on Travelers Companies from $196.00 to $216.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Travelers Companies from $221.00 to $234.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $230.89.

View Our Latest Stock Report on Travelers Companies

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the completion of the sale, the executive vice president now directly owns 22,798 shares in the company, valued at $4,820,409.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Creative Planning raised its stake in Travelers Companies by 3.5% during the 3rd quarter. Creative Planning now owns 84,571 shares of the insurance provider’s stock valued at $19,800,000 after purchasing an additional 2,875 shares during the period. CX Institutional raised its stake in Travelers Companies by 1,264.7% during the 3rd quarter. CX Institutional now owns 18,996 shares of the insurance provider’s stock valued at $4,447,000 after purchasing an additional 17,604 shares during the period. Empirical Asset Management LLC raised its stake in Travelers Companies by 27.9% during the 3rd quarter. Empirical Asset Management LLC now owns 14,956 shares of the insurance provider’s stock valued at $3,501,000 after purchasing an additional 3,267 shares during the period. ORG Wealth Partners LLC acquired a new stake in Travelers Companies during the 3rd quarter valued at $68,000. Finally, Procyon Advisors LLC raised its stake in Travelers Companies by 2.9% during the 3rd quarter. Procyon Advisors LLC now owns 17,032 shares of the insurance provider’s stock valued at $3,988,000 after purchasing an additional 480 shares during the period. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Performance

The firm’s 50 day simple moving average is $227.36 and its 200-day simple moving average is $218.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $53.92 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.21 and a beta of 0.62.

Travelers Companies (NYSE:TRVGet Free Report) last posted its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.35 billion. During the same period last year, the company posted $0.06 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Analysts expect that The Travelers Companies, Inc. will post 17.2 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, September 10th. Travelers Companies’s dividend payout ratio is presently 26.55%.

About Travelers Companies

(Get Free Report)

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.

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