Travelers Companies (NYSE:TRV) Raised to Overweight at Piper Sandler

Travelers Companies (NYSE:TRV) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Friday, Marketbeat reports. The firm presently has a $310.00 price target on the insurance provider’s stock, up from their previous price target of $259.00. Piper Sandler’s target price would suggest a potential upside of 28.48% from the stock’s current price.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Travelers Companies from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America upped their price target on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Hsbc Global Res upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group raised shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price objective for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets raised their target price on shares of Travelers Companies from $233.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Travelers Companies has an average rating of “Hold” and an average target price of $260.11.

Travelers Companies Stock Performance

NYSE TRV opened at $241.29 on Friday. The firm has a 50-day moving average of $247.92 and a 200-day moving average of $237.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.33. The stock has a market cap of $54.78 billion, a PE ratio of 11.24, a P/E/G ratio of 1.09 and a beta of 0.65. Travelers Companies has a 52-week low of $200.21 and a 52-week high of $269.55.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10,795,375 billion. During the same period last year, the business posted $7.01 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Travelers Companies will post 20.33 EPS for the current year.

Insider Transactions at Travelers Companies

In other news, 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 transaction of $990,352.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andy F. Bessette sold 4,520 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $253.46, for a total value of $1,145,639.20. Following the completion of the sale, the executive vice president now owns 16,976 shares of the company’s stock, valued at $4,302,736.96. The trade was a 21.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,670 shares of company stock worth $4,861,329. Insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC lifted its holdings in Travelers Companies by 39.1% in the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after buying an additional 45 shares during the period. True Wealth Design LLC acquired a new position in shares of Travelers Companies in the 3rd quarter valued at about $41,000. Catalyst Capital Advisors LLC bought a new stake in shares of Travelers Companies during the 3rd quarter valued at about $50,000. Versant Capital Management Inc grew its stake in Travelers Companies by 581.1% during the fourth 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 period. Finally, Salomon & Ludwin LLC increased its holdings in Travelers Companies by 22.1% in the third quarter. Salomon & Ludwin LLC now owns 276 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 50 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

About Travelers Companies

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.