Travelers Companies (TRV) Price Target Raised to $170.00 at Barclays
Travelers Companies (NYSE:TRV) had its target price hoisted by Barclays from $160.00 to $170.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the insurance provider’s stock.
A number of other research analysts have also issued reports on TRV. Wells Fargo & Co set a $130.00 target price on Travelers Companies and gave the company a hold rating in a report on Wednesday, January 23rd. Credit Suisse Group reiterated a neutral rating on shares of Travelers Companies in a report on Wednesday, January 23rd. Zacks Investment Research upgraded Travelers Companies from a sell rating to a buy rating and set a $151.00 target price for the company in a report on Tuesday, March 26th. UBS Group lifted their target price on Travelers Companies from $129.00 to $135.00 and gave the company a neutral rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada reiterated a neutral rating and issued a $145.00 target price on shares of Travelers Companies in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Travelers Companies currently has a consensus rating of Hold and an average price target of $141.42.
NYSE:TRV opened at $147.94 on Wednesday. The firm has a market capitalization of $38.48 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.34 and a beta of 1.08. Travelers Companies has a 12-month low of $111.08 and a 12-month high of $148.85. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.29.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.22%. This is an increase from Travelers Companies’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, June 7th. Travelers Companies’s payout ratio is 34.45%.
In other Travelers Companies news, CEO Alan D. Schnitzer sold 66,228 shares of Travelers Companies stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $132.22, for a total transaction of $8,756,666.16. Following the completion of the sale, the chief executive officer now directly owns 134,252 shares of the company’s stock, valued at approximately $17,750,799.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 10,000 shares of Travelers Companies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $147.75, for a total value of $1,477,500.00. Following the sale, the insider now directly owns 247,245 shares of the company’s stock, valued at $36,530,448.75. The disclosure for this sale can be found here. Insiders have sold a total of 286,038 shares of company stock valued at $39,834,429 over the last ninety days. 0.73% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Twin Capital Management Inc. increased its position in shares of Travelers Companies by 1.0% during the first quarter. Twin Capital Management Inc. now owns 32,380 shares of the insurance provider’s stock worth $4,441,000 after purchasing an additional 330 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Travelers Companies by 10.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 103,297 shares of the insurance provider’s stock worth $12,371,000 after purchasing an additional 10,145 shares in the last quarter. Garner Asset Management Corp increased its position in shares of Travelers Companies by 28.7% during the fourth quarter. Garner Asset Management Corp now owns 12,008 shares of the insurance provider’s stock worth $1,438,000 after purchasing an additional 2,678 shares in the last quarter. Dean Capital Investments Management LLC increased its position in shares of Travelers Companies by 15.7% during the fourth quarter. Dean Capital Investments Management LLC now owns 4,463 shares of the insurance provider’s stock worth $534,000 after purchasing an additional 606 shares in the last quarter. Finally, Mackay Shields LLC increased its position in shares of Travelers Companies by 3.3% during the fourth quarter. Mackay Shields LLC now owns 162,733 shares of the insurance provider’s stock worth $19,487,000 after purchasing an additional 5,168 shares in the last quarter. 79.90% of the stock is owned by institutional investors.
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.
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