Bank of America Lowers Travelers Companies (NYSE:TRV) Price Target to $257.00

Travelers Companies (NYSE:TRV) had its price objective dropped by equities research analysts at Bank of America from $259.00 to $257.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the insurance provider’s stock. Bank of America‘s price target indicates a potential downside of 14.15% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Weiss Ratings upgraded shares of Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, February 9th. UBS Group reiterated a “neutral” rating on shares of Travelers Companies in a report on Monday, February 2nd. Mizuho cut their price target on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Finally, Argus upgraded shares of Travelers Companies to a “strong-buy” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $308.64.

Travelers Companies Stock Down 0.1%

Shares of Travelers Companies stock opened at $299.38 on Tuesday. The company has a market cap of $63.66 billion, a P/E ratio of 10.87, a PEG ratio of 2.78 and a beta of 0.51. 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 $247.81 and a one year high of $313.12. The firm has a fifty day moving average of $299.54 and a two-hundred day moving average of $287.73.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. Travelers Companies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.15 EPS. On average, analysts forecast that Travelers Companies will post 17.02 earnings per share for the current year.

Travelers Companies declared that its board has authorized a stock buyback plan on Wednesday, January 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 8.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the completion of the transaction, the executive vice president directly owned 33,638 shares in the company, valued at approximately $10,131,092.84. This trade represents a 22.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the transaction, the executive vice president owned 6,075 shares of the company’s stock, valued at $1,699,602.75. This trade represents a 73.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 92,845 shares of company stock valued at $27,239,631. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several hedge funds have recently added to or reduced their stakes in TRV. Kemnay Advisory Services Inc. purchased a new position in Travelers Companies during the 4th quarter valued at about $26,000. Osterweis Capital Management Inc. boosted its stake in shares of Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Travelers Companies by 134.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Clayton Financial Group LLC acquired a new stake in shares of Travelers Companies during the 3rd quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Travelers Companies during the 4th quarter worth about $28,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

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.