Piper Sandler Cuts Travelers Companies (NYSE:TRV) Price Target to $259.00

Travelers Companies (NYSE:TRVFree Report) had its target price decreased by Piper Sandler from $280.00 to $259.00 in a research note released on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the insurance provider’s stock.

Several other research analysts also recently weighed in on the company. HSBC upgraded Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Tuesday, December 10th. Jefferies Financial Group boosted their price objective on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. BMO Capital Markets lifted their price target on Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $255.10.

Get Our Latest Stock Analysis on TRV

Travelers Companies Price Performance

Shares of TRV stock opened at $242.89 on Monday. The stock has a 50 day moving average price of $251.06 and a 200 day moving average price of $234.38. The firm has a market capitalization of $55.14 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.17 and a beta of 0.65. Travelers Companies has a 52-week low of $189.87 and a 52-week high of $269.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34.

Travelers Companies (NYSE:TRVGet Free Report) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period last year, the business posted $1.95 EPS. Travelers Companies’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Travelers Companies will post 18.84 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.73%. Travelers Companies’s dividend payout ratio (DPR) is 21.54%.

Insider Transactions at Travelers Companies

In other news, CEO Alan D. Schnitzer sold 40,524 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the sale, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at $57,726,870.88. The trade was a 15.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Maria Olivo sold 10,410 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $261.80, for a total transaction of $2,725,338.00. Following the sale, the executive vice president now directly owns 111,162 shares of the company’s stock, valued at $29,102,211.60. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,149 shares of company stock valued at $20,295,856 in the last ninety days. Corporate insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

A number of institutional investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its holdings in Travelers Companies by 25.2% in the 4th quarter. CWA Asset Management Group LLC now owns 2,367 shares of the insurance provider’s stock worth $570,000 after buying an additional 476 shares in the last quarter. Pensionfund Sabic increased its position in shares of Travelers Companies by 21.1% in the 4th quarter. Pensionfund Sabic now owns 6,900 shares of the insurance provider’s stock worth $1,662,000 after purchasing an additional 1,200 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Travelers Companies by 15.6% in the 4th quarter. Nordea Investment Management AB now owns 645,650 shares of the insurance provider’s stock worth $155,008,000 after purchasing an additional 86,928 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Travelers Companies by 12.7% in the 4th quarter. GAMMA Investing LLC now owns 7,055 shares of the insurance provider’s stock worth $1,699,000 after purchasing an additional 797 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Travelers Companies by 581.1% in the 4th quarter. Versant Capital Management Inc now owns 252 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

About Travelers Companies

(Get Free Report)

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.

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