Travelers Companies (NYSE:TRV) Stock Price Expected to Rise, Evercore ISI Analyst Says

Travelers Companies (NYSE:TRV) had its price objective lifted by investment analysts at Evercore ISI from $288.00 to $296.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Evercore ISI’s target price suggests a potential upside of 15.60% from the company’s previous close.

Several other research firms have also issued reports on TRV. BMO Capital Markets lifted their target price on Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on shares of Travelers Companies from $260.00 to $271.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 8th. UBS Group decreased their target price on shares of Travelers Companies from $270.00 to $267.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company raised Travelers Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $225.00 to $247.00 in a research report on Wednesday, April 9th. Finally, Piper Sandler raised Travelers Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $259.00 to $310.00 in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies currently has an average rating of “Hold” and a consensus price target of $267.32.

Travelers Companies Price Performance

Shares of TRV opened at $256.05 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50 day moving average price of $252.42 and a 200-day moving average price of $249.36. Travelers Companies has a fifty-two week low of $200.21 and a fifty-two week high of $269.56. The stock has a market capitalization of $58.05 billion, a PE ratio of 11.93, a PEG ratio of 4.65 and a beta of 0.48.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $1.38. The company had revenue of $10.52 billion during the quarter, compared to analyst estimates of $10.97 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. During the same quarter in the prior year, the business earned $4.69 earnings per share. Equities analysts predict that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Travelers Companies

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in Travelers Companies by 236.9% in the fourth quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock valued at $844,854,000 after buying an additional 2,466,098 shares in the last quarter. Norges Bank acquired a new stake in shares of Travelers Companies during the 4th quarter valued at about $560,918,000. GAMMA Investing LLC increased its stake in shares of Travelers Companies by 31,132.9% in the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider’s stock valued at $582,733,000 after purchasing an additional 2,196,426 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Travelers Companies by 153.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider’s stock worth $360,694,000 after purchasing an additional 907,266 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Travelers Companies during the fourth quarter worth approximately $138,619,000. 82.45% of the stock is owned by hedge funds and other 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.