Travelers Companies (NYSE:TRV) Price Target Raised to $264.00

Travelers Companies (NYSE:TRV) had its target price raised by Wells Fargo & Company from $260.00 to $264.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other equities research analysts have also recently commented on TRV. Evercore ISI raised their target price on Travelers Companies from $288.00 to $296.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Hsbc Global Res lowered shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Jefferies Financial Group raised their price target on shares of Travelers Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Barclays lowered shares of Travelers Companies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $280.00 to $274.00 in a research note on Monday, July 7th. Finally, UBS Group decreased their target price on shares of Travelers Companies from $270.00 to $267.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $271.00.

Travelers Companies Stock Performance

Shares of NYSE:TRV opened at $254.26 on Thursday. The company has a market capitalization of $57.43 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 3.72 and a beta of 0.51. Travelers Companies has a 52 week low of $202.95 and a 52 week high of $277.83. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $267.10 and a 200 day moving average of $255.80.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share (EPS) 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 16.10% and a net margin of 9.09%. During the same quarter last year, the business posted $4.69 EPS. On average, sell-side analysts predict that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were issued a dividend of $1.10 per share. The ex-dividend date was Tuesday, June 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. Travelers Companies’s payout ratio is currently 23.95%.

Insider Transactions at Travelers Companies

In other news, EVP Jeffrey P. Klenk sold 15,180 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $272.87, for a total transaction of $4,142,166.60. Following the transaction, the executive vice president owned 6,075 shares in the company, valued at $1,657,685.25. This represents a 71.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel S. Frey sold 20,286 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the transaction, the chief financial officer owned 26,932 shares in the company, valued at approximately $7,365,363.36. This trade represents a 42.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,869 shares of company stock worth $44,868,201. 1.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Travelers Companies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 21,733,556 shares of the insurance provider’s stock valued at $5,747,656,000 after purchasing an additional 115,808 shares during the period. FMR LLC boosted its holdings in Travelers Companies by 1.6% in the 4th quarter. FMR LLC now owns 14,277,851 shares of the insurance provider’s stock valued at $3,439,392,000 after purchasing an additional 229,160 shares during the period. Geode Capital Management LLC boosted its holdings in Travelers Companies by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,258,490 shares of the insurance provider’s stock valued at $1,269,321,000 after purchasing an additional 182,270 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Travelers Companies by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,752,484 shares of the insurance provider’s stock valued at $903,937,000 after purchasing an additional 70,036 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Travelers Companies by 236.9% in the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock valued at $844,854,000 after purchasing an additional 2,466,098 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

About Travelers Companies

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.