Bank of America Boosts Travelers Companies (NYSE:TRV) Price Target to $265.00

Travelers Companies (NYSE:TRV) had its target price raised by Bank of America from $241.00 to $265.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an underperform rating on the insurance provider’s stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. increased their price target on Travelers Companies from $220.00 to $242.00 and gave the company an “underweight” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft increased their target price on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. William Blair reaffirmed a “market perform” rating on shares of Travelers Companies in a report on Friday, June 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $225.00 target price on shares of Travelers Companies in a report on Monday, July 22nd. Finally, Jefferies Financial Group increased their target price on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $235.42.

Travelers Companies Trading Up 0.2 %

Shares of TRV opened at $265.45 on Thursday. The company has a market capitalization of $60.50 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.26 and a beta of 0.62. Travelers Companies has a one year low of $157.33 and a one year high of $269.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a 50-day moving average price of $231.88 and a 200 day moving average price of $219.59.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. Travelers Companies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.95 earnings per share. Sell-side analysts forecast that Travelers Companies will post 17.09 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.58%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is currently 26.55%.

Insider Activity at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the sale, the executive vice president now directly owns 22,798 shares in the company, valued at $4,820,409.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Travelers Companies

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Travelers Companies by 36.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock valued at $2,702,588,000 after purchasing an additional 3,158,979 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Travelers Companies by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,044,839 shares of the insurance provider’s stock valued at $619,241,000 after purchasing an additional 165,708 shares during the period. Legal & General Group Plc increased its position in shares of Travelers Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider’s stock valued at $474,774,000 after purchasing an additional 37,029 shares during the period. Boston Partners increased its position in shares of Travelers Companies by 16.4% during the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock valued at $319,348,000 after purchasing an additional 196,011 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Travelers Companies by 8.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,150,213 shares of the insurance provider’s stock valued at $233,769,000 after purchasing an additional 85,619 shares during the period. 82.45% of the stock is currently 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.