Travelers Companies (NYSE:TRV) Price Target Raised to $343.00 at Mizuho

Travelers Companies (NYSE:TRV) had its price target boosted by Mizuho from $324.00 to $343.00 in a report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Other analysts have also issued research reports about the stock. Roth Capital boosted their target price on shares of Travelers Companies from $345.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup reiterated a “market perform” rating on shares of Travelers Companies in a research note on Monday. Bank of America raised their target price on shares of Travelers Companies from $283.00 to $307.00 and gave the stock an “underperform” rating in a report on Monday. HSBC raised their price target on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, Cantor Fitzgerald boosted their price objective on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Stock Up 2.9%

TRV stock opened at $387.42 on Friday. The company has a market capitalization of $80.80 billion, a P/E ratio of 10.38, a PEG ratio of 3.76 and a beta of 0.46. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.27. Travelers Companies has a twelve month low of $252.26 and a twelve month high of $389.11. The firm has a 50 day simple moving average of $322.06 and a 200-day simple moving average of $304.48.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the company posted $6.51 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Travelers Companies will post 32.15 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio is 13.39%.

Insider Transactions at Travelers Companies

In related news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the transaction, the insider owned 48,737 shares of the company’s stock, valued at approximately $15,049,010.86. This trade represents a 12.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the sale, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,292 shares of company stock valued at $5,639,800 over the last three months. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

A number of hedge funds have recently modified their holdings of the stock. Berman McAleer LLC increased its stake in shares of Travelers Companies by 3.5% during the 2nd quarter. Berman McAleer LLC now owns 894 shares of the insurance provider’s stock worth $295,000 after purchasing an additional 30 shares during the last quarter. Willner & Heller LLC boosted its holdings in Travelers Companies by 2.7% in the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider’s stock worth $398,000 after purchasing an additional 32 shares in the last quarter. Spinnaker Trust boosted its holdings in Travelers Companies by 1.7% in the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider’s stock worth $565,000 after purchasing an additional 33 shares in the last quarter. Cim LLC increased its position in Travelers Companies by 0.4% during the fourth quarter. Cim LLC now owns 8,145 shares of the insurance provider’s stock worth $2,363,000 after buying an additional 34 shares during the last quarter. Finally, Avalon Trust Co raised its holdings in Travelers Companies by 0.4% during the first quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider’s stock valued at $2,562,000 after buying an additional 35 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Travelers Companies

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

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.