Barclays Issues Positive Forecast for Travelers Companies (NYSE:TRV) Stock Price

Travelers Companies (NYSE:TRV) had its price objective boosted by Barclays from $312.00 to $331.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other equities analysts have also issued reports on TRV. JPMorgan Chase & Co. raised their price target on Travelers Companies from $302.00 to $305.00 and gave the stock an “underweight” rating in a report on Wednesday, January 7th. Zacks Research lowered Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Mizuho lowered their price target on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Argus raised Travelers Companies to a “strong-buy” rating in a report on Monday, January 26th. Finally, Brean Capital initiated coverage on Travelers Companies in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $308.14.

Travelers Companies Stock Up 2.2%

TRV opened at $301.40 on Wednesday. The business’s 50-day simple moving average is $298.29 and its 200-day simple moving average is $286.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. Travelers Companies has a one year low of $230.47 and a one year high of $313.12. The stock has a market capitalization of $65.17 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 2.74 and a beta of 0.51.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. During the same quarter in the previous year, the firm earned $9.15 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Travelers Companies will post 17.02 EPS for the current year.

Travelers Companies announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, March 10th. Travelers Companies’s payout ratio is currently 15.98%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $301.18, for a total value of $3,011,800.00. Following the sale, the executive vice president owned 33,638 shares of the company’s stock, valued at approximately $10,131,092.84. The trade was a 22.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the sale, the chief executive officer directly owned 260,329 shares in the company, valued at $76,718,956.30. This represents a 17.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 92,845 shares of company stock worth $27,239,631 over the last quarter. 1.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Travelers Companies

A number of institutional investors have recently added to or reduced their stakes in TRV. Brighton Jones LLC boosted its holdings in Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 387 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Travelers Companies during the 4th quarter valued at approximately $276,000. WINTON GROUP Ltd acquired a new stake in shares of Travelers Companies during the 2nd quarter valued at approximately $382,000. L2 Asset Management LLC lifted its position in shares of Travelers Companies by 5.2% during the 2nd quarter. L2 Asset Management LLC now owns 1,003 shares of the insurance provider’s stock valued at $268,000 after acquiring an additional 50 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Travelers Companies by 5.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 116,157 shares of the insurance provider’s stock valued at $31,077,000 after acquiring an additional 5,654 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

About Travelers Companies

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.