The Goldman Sachs Group Upgrades Travelers Companies (NYSE:TRV) to Buy

Travelers Companies (NYSE:TRV) was upgraded by equities research analysts at The Goldman Sachs Group from a “sell” rating to a “buy” rating in a report released on Wednesday, MarketBeat.com reports. The firm presently has a $278.00 target price on the insurance provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 14.46% from the company’s current price.

A number of other equities analysts also recently commented on TRV. Wells Fargo & Company restated an “underweight” rating and set a $217.00 price objective (down from $256.00) on shares of Travelers Companies in a research note on Wednesday, December 11th. BMO Capital Markets increased their price target on Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Piper Sandler cut their price objective on Travelers Companies from $280.00 to $259.00 and set a “neutral” rating for the company in a report on Monday. Finally, HSBC upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $255.10.

Travelers Companies Stock Up 0.5 %

NYSE:TRV opened at $242.89 on Wednesday. The stock has a 50-day simple moving average of $250.99 and a 200 day simple moving average of $234.44. Travelers Companies has a 52-week low of $189.87 and a 52-week high of $269.55. The company has a market cap of $55.14 billion, a PE ratio of 12.46, a PEG ratio of 1.17 and a beta of 0.65. 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:TRV) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, topping the consensus estimate of $3.79 by $1.45. The company had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.95 EPS. On average, sell-side analysts expect that Travelers Companies will post 18.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Travelers Companies news, CEO Alan D. Schnitzer sold 40,524 shares of the company’s stock in a transaction on Monday, October 21st. The stock was 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 in the company, valued at $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 3,740 shares of Travelers Companies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $264.80, for a total value of $990,352.00. Following the completion of the transaction, the insider now owns 250,384 shares in the company, valued at approximately $66,301,683.20. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,149 shares of company stock valued at $20,295,856 over the last 90 days. 1.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travelers Companies

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in Travelers Companies by 34.0% in the second quarter. Victory Capital Management Inc. now owns 113,208 shares of the insurance provider’s stock valued at $23,020,000 after buying an additional 28,735 shares in the last quarter. PFG Investments LLC grew its position in Travelers Companies by 56.5% during the 2nd quarter. PFG Investments LLC now owns 3,577 shares of the insurance provider’s stock worth $727,000 after acquiring an additional 1,291 shares during the last quarter. Choreo LLC increased its holdings in Travelers Companies by 126.2% in the 2nd quarter. Choreo LLC now owns 15,199 shares of the insurance provider’s stock worth $3,085,000 after purchasing an additional 8,479 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Travelers Companies by 6.8% in the second quarter. Royal London Asset Management Ltd. now owns 133,749 shares of the insurance provider’s stock valued at $27,197,000 after purchasing an additional 8,547 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in shares of Travelers Companies during the second quarter valued at about $2,623,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Company Profile

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.